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Australian Mines ( (AU:AUZ) ) has shared an announcement.
Australian Mines Limited has successfully raised $4 million through a strategic placement, exceeding initial expectations due to strong institutional and European investor support. This capital will fund upscaled drilling programs at the Flemington Scandium deposit and the Boa Vista Gold Project, potentially enhancing the company’s market position and operational capabilities in the scandium and gold sectors.
More about Australian Mines
Australian Mines Limited operates in the mining industry, focusing on the exploration and development of scandium and gold resources. The company is strategically positioned to benefit from high gold prices and restrictions on scandium exports from China, with its Flemington Scandium deposit being one of the highest-grade resources globally. Additionally, it is advancing the Boa Vista Gold Project in Brazil, a significant bulk tonnage gold exploration site.
Average Trading Volume: 44,364,174
Technical Sentiment Signal: Hold
Current Market Cap: A$39.83M
See more data about AUZ stock on TipRanks’ Stock Analysis page.