Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Canyon Resources Limited ( (AU:CAY) ) has shared an announcement.
Canyon Resources Limited has announced the issuance of 123,741,836 fully paid ordinary shares to major shareholder Eagle Eye Asset Holdings Pte Ltd, following the exercise of unquoted options. This transaction has increased the company’s cash reserve by $24.5 million, which will support the advancement of its Minim Martap Project. The company has also provided a cleansing notice under the Corporations Act, allowing the new shares to be traded immediately.
The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Canyon Resources Limited stock, see the AU:CAY Stock Forecast page.
More about Canyon Resources Limited
Canyon Resources Limited is a company operating in the mining industry, focusing on advancing its flagship Minim Martap Project towards production.
Average Trading Volume: 605,998
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$412.1M
See more data about CAY stock on TipRanks’ Stock Analysis page.