Eastern Metals Initiates Capital Raising and Strategic Acquisition

Eastern Metals Limited ( (AU:EMS) ) just unveiled an update.

Eastern Metals Limited has announced a capital raising initiative, securing commitments for an initial placement of A$250,000 through the issuance of 25 million shares at A$0.01 each. This move is part of a broader strategy to raise up to A$4.25 million, which includes a subsequent placement aimed at raising between A$3 million and A$4 million. The funds are intended for general working capital and costs associated with a proposed acquisition of Raptor Resources Limited, a copper exploration company. This acquisition, pending due diligence and shareholder approval, could significantly enhance Eastern Metals’ resource portfolio and industry positioning.

More about Eastern Metals Limited

Eastern Metals Limited is a company in the mining industry, primarily focused on the exploration and development of mineral resources, particularly copper. The company engages in activities related to the acquisition and exploration of mineral properties, aiming to expand its market presence and resource base.

Average Trading Volume: 402,050

Technical Sentiment Signal: Buy

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