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An update from Eagle Mountain Mining Ltd. ( (AU:EM2) ) is now available.
Eagle Mountain Mining has closed its non-renounceable entitlement offer, raising approximately A$1.08 million through the issue of nearly 120 million new shares at A$0.009 each, accompanied by about 40 million free unlisted options exercisable at A$0.02 by November 2028. The capital raised fell short of the targeted A$1.98 million, leaving a shortfall of about A$0.9 million and nearly 100 million shares, which the company plans to place with investors in collaboration with its lead managers, a step that will be important for strengthening its balance sheet and supporting ongoing exploration activities in Arizona.
The most recent analyst rating on (AU:EM2) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Eagle Mountain Mining Ltd. stock, see the AU:EM2 Stock Forecast page.
More about Eagle Mountain Mining Ltd.
Eagle Mountain Mining Limited is an ASX-listed copper-gold exploration company focused on the strategic exploration and development of its Wedgetail and Silver Mountain projects in Arizona, USA, a key jurisdiction within America’s mining industry and home to some of the world’s largest copper deposits.
Average Trading Volume: 3,433,555
Technical Sentiment Signal: Sell
Current Market Cap: A$15.39M
Learn more about EM2 stock on TipRanks’ Stock Analysis page.