Carbine Resources Announces Rights Issue to Fund Silica Sand Projects

The latest update is out from Carbine Resources Limited ( (AU:CRB) ).

Carbine Resources Limited has announced a pro-rata non-renounceable rights issue to raise approximately $1,103,476, offering two new shares for every three shares held by eligible shareholders. The funds will be used for exploration activities at the Muchea West and Down South Silica Sand Projects, business development, and general working capital. Additionally, the company is offering 10 million options to Taylor Collison Limited as part of a broker offer. This initiative is expected to enhance the company’s operational capabilities and strengthen its market position in the silica sand industry.

More about Carbine Resources Limited

Carbine Resources Limited is a company involved in the exploration and development of mineral resources, with a focus on silica sand projects. The company is actively working on the Muchea West and Down South Silica Sand Projects, aiming to progress mining approvals and conduct field reconnaissance, sampling, and drilling activities.

Current Market Cap: A$1.66M

For an in-depth examination of CRB stock, go to TipRanks’ Stock Analysis page.