Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
The latest update is out from Intra Energy Corporation Limited ( (AU:BTM) ).
Breakthrough Minerals has secured firm commitments to raise A$5.15 million via a placement of 30.3 million new shares at A$0.17 each, representing a discount to recent trading and VWAP levels. The placement was strongly supported by existing shareholders and new institutional and sophisticated investors, with bids significantly scaled back due to strong demand.
The company says the proceeds will fully fund an expanded ~10,000-metre diamond drilling program at its North Queensland Copper-Gold Project, targeting material resource growth at the Barbara and Hazel Creek deposits. Funds will also support care and maintenance at the Mt Colin and Barbara mine sites and general working capital, positioning Breakthrough Minerals for a high-impact drilling phase and a steady flow of exploration results in coming months.
More about Intra Energy Corporation Limited
Breakthrough Minerals Limited is an Australian-listed resources company focused on copper and gold exploration and development, primarily through its 100% owned North Queensland Copper-Gold Project. The project currently hosts a JORC-compliant mineral resource of 18.8 million tonnes at 1.07% copper equivalent, with deposits at Barbara and Hazel Creek seen as key growth assets.
Average Trading Volume: 314,558
Technical Sentiment Signal: Sell
Current Market Cap: A$32.1M
For a thorough assessment of BTM stock, go to TipRanks’ Stock Analysis page.