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Canyon Resources Limited Issues New Shares to Boost Capital

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Canyon Resources Limited Issues New Shares to Boost Capital

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Canyon Resources Limited ( (AU:CAY) ) has shared an announcement.

Canyon Resources Limited has announced the issuance of 12,584,817 fully paid ordinary shares, which will be quoted on the Australian Securities Exchange (ASX). This move is part of the company’s strategy to enhance its capital structure and support its ongoing operations, potentially impacting its market position and offering new opportunities for stakeholders.

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 operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in the production and exploration of bauxite, a key raw material for aluminum production.

Average Trading Volume: 619,909

Technical Sentiment Signal: Buy

Current Market Cap: A$505.1M

See more insights into CAY stock on TipRanks’ Stock Analysis page.

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