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The latest update is out from Diatreme Resources Limited ( (AU:DRX) ).
Diatreme Resources Limited announced a corrected header for their shareholders’ priority offer in the Moonlight Resources IPO Prospectus. The offer, fully underwritten at $3.0 million, allows DRX shareholders to purchase Moonlight shares at $0.20 each, with an additional free option for every two shares acquired. This move follows Diatreme’s agreement to sell its shares in Chalcophile Resources Pty Ltd and PGE Minerals Pty Limited to Moonlight, receiving 16,250,000 Moonlight shares and $250,000 in cash. This transaction is expected to enhance Diatreme’s financial position and provide its shareholders with strategic investment opportunities.
More about Diatreme Resources Limited
Diatreme Resources Limited is a developer and explorer in the silica sands industry. The company focuses on projects that involve the exploration and development of silica sands, which are essential for various industrial applications.
Average Trading Volume: 1,209,341
Technical Sentiment Signal: Sell
Current Market Cap: A$95.16M
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.