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Blue Energy Limited ( (AU:BLU) ) just unveiled an update.
Blue Energy Limited has successfully raised $3.2 million through a two-tranche placement to institutional and sophisticated investors, issuing 277,646,039 new shares at $0.005 each in the first tranche. The second tranche, involving up to 362,353,961 additional shares, awaits shareholder approval. Additionally, the company is progressing towards obtaining a Petroleum Lease for the Sapphire Block, following a favorable Land Court resolution, which could enhance its operational capabilities and market position.
More about Blue Energy Limited
Blue Energy Limited operates in the energy sector, focusing on petroleum exploration and production. The company is involved in the development of natural resources and works closely with governmental departments to secure necessary leases for its operations.
Average Trading Volume: 2,695,031
Technical Sentiment Signal: Sell
Current Market Cap: A$12.96M
See more data about BLU stock on TipRanks’ Stock Analysis page.