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Brightstar Resources Limited ( (AU:BTR) ) just unveiled an update.
Brightstar Resources Limited has lodged an Appendix 3B notice with the ASX outlining a proposed capital raising through the issue of new ordinary fully paid shares. The company, listed under the code BTR, has not provided additional operational or strategic context for the raise in this filing.
Under the proposal, Brightstar plans to issue up to 350 million new ordinary fully paid shares via a placement or similar type of securities issue, with a proposed issue date of 10 February 2025. The move will significantly increase the company’s share base, with implications for existing shareholders’ dilution and providing additional capital that may be used to support future corporate or project activities, although specific uses of funds are not detailed in this announcement.
The most recent analyst rating on (AU:BTR) stock is a Hold with a A$0.63 price target. To see the full list of analyst forecasts on Brightstar Resources Limited stock, see the AU:BTR Stock Forecast page.
More about Brightstar Resources Limited
Average Trading Volume: 5,659,536
Technical Sentiment Signal: Buy
Current Market Cap: A$448.4M
Learn more about BTR stock on TipRanks’ Stock Analysis page.