Cannindah Resources Raises $3.9m in Second Tranche Share Placement

Cannindah Resources Limited ( (AU:CAE) ) has shared an update.

Cannindah Resources Limited has completed the second tranche of a previously announced share placement, issuing 87,222,223 fully paid ordinary shares at $0.045 each to raise approximately $3.925 million before costs. The tranche, which was approved by shareholders in March, was conducted without a prospectus under statutory disclosure exemptions, with the company confirming it remains compliant with its continuous disclosure and financial reporting obligations, signalling regulatory alignment as it strengthens its capital base.

The company also stated that, as at the date of the notice, there is no excluded information that would need to be disclosed under the relevant provisions of the Corporations Act. This assurance is intended to provide comfort to investors that the placement has been executed within the existing regulatory framework and without undisclosed material information, supporting transparency around Cannindah’s capital-raising activities.

The most recent analyst rating on (AU:CAE) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on Cannindah Resources Limited stock, see the AU:CAE Stock Forecast page.

More about Cannindah Resources Limited

Cannindah Resources Limited is an Australian-listed resources company focused on mineral exploration and development. The company’s primary activity involves issuing and managing equity capital on the ASX to fund its ongoing projects and corporate activities.

Average Trading Volume: 2,206,946

Technical Sentiment Signal: Sell

Current Market Cap: A$49.74M

See more data about CAE stock on TipRanks’ Stock Analysis page.