Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Cosmo Metals Limited ( (AU:CMO) ) has shared an announcement.
Cosmo Metals has completed a fully underwritten $1.55 million non-renounceable entitlement offer, issuing five new shares for every fourteen held at $0.010, with free attaching options, to fund near-term drilling. The offer was strongly supported by major shareholders, directors and high net worth investors, though about two-thirds of the issue will be placed with sub-underwriters due to under subscription.
Proceeds will back a high-impact drilling campaign at the Kanowna Gold Project, including a 400m diamond hole co-funded by Western Australia’s Exploration Incentive Scheme, aiming to test a significant gold discovery opportunity near Kalgoorlie. Funds will also advance modern exploration and upcoming drilling at the Bingara gold-antimony and copper project in northern NSW, potentially reshaping Cosmo’s growth pipeline if results confirm the projects’ prospectivity.
The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.
More about Cosmo Metals Limited
Cosmo Metals Limited is an ASX-listed mineral exploration company focused on gold and base metals projects in Australia. Its key assets include the Kanowna Gold Project in the Western Australian Goldfields, near Northern Star’s large Kanowna Belle mine, and the underexplored Bingara gold-antimony and copper project in the New England Orogen of northern New South Wales.
Average Trading Volume: 759,631
Technical Sentiment Signal: Sell
Current Market Cap: A$5.89M
See more data about CMO stock on TipRanks’ Stock Analysis page.