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Eastern Metals Limited ( (AU:EMS) ) has shared an announcement.
Eastern Metals Limited has completed the sale of its Cobar Project tenements to Australian Gold and Copper Ltd, receiving approximately 6.933 million shares valued at $1.3 million. The company plans to distribute a portion of these shares to its shareholders and is preparing for a capital raising initiative as part of its transaction with Raptor Resources Limited. This strategic move is expected to impact EMS’s market positioning and shareholder value.
More about Eastern Metals Limited
Eastern Metals Limited, soon to be renamed Raptor Metals Ltd, operates in the mining industry, focusing on the exploration and development of mineral resources. The company is engaged in projects that involve the extraction of valuable minerals, with a particular emphasis on tenements in New South Wales, Australia.
Technical Sentiment Signal: Sell
For an in-depth examination of EMS stock, go to TipRanks’ Overview page.