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Eastern Metals Limited ( (AU:EMS) ) has issued an update.
Eastern Metals Limited is seeking to raise between A$4 million and A$5 million through a public offer of 200 million to 250 million new shares at A$0.02 each as part of its planned transformation and rebranding to Raptor Metals Ltd. The capital raising, which is not underwritten and is subject to several conditions, is intended to support the company’s revamped operational strategy and facilitate its re-compliance with ASX admission rules following the shift in its business activities, signalling a high-risk but potentially pivotal step for its future market positioning and for existing and prospective shareholders.
The most recent analyst rating on (AU:EMS) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Eastern Metals Limited stock, see the AU:EMS Stock Forecast page.
More about Eastern Metals Limited
Eastern Metals Limited, which plans to rebrand as Raptor Metals Ltd, is an ASX-listed resources company (currently trading under the code EMS, to become RAP) operating in the metals and mining sector. The company is undergoing a change in the nature and scale of its activities significant enough to require re-compliance with the Australian Securities Exchange’s Chapters 1 and 2 listing requirements.
Technical Sentiment Signal: Sell
Learn more about EMS stock on TipRanks’ Stock Analysis page.