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Empire Resources Limited ( (AU:ERL) ) has issued an announcement.
Empire Resources Limited has completed the second tranche of its previously announced share placement, issuing 238,750,000 fully paid ordinary shares at $0.008 each to raise A$1.91 million, following shareholder approval at an extraordinary general meeting. This follows the first tranche completed in February, which raised approximately A$2.91 million via 363,478,311 shares, with the combined funding strengthening the company’s balance sheet and providing additional capital to advance its gold and copper exploration and development projects in Western Australia.
A portion of the tranche two shares was issued under the company’s existing placement capacity, with the balance issued following shareholder approval under relevant ASX listing rules. Empire has confirmed it remains compliant with its financial reporting and continuous disclosure obligations, signalling regulatory comfort for investors as the company positions itself to progress its key projects and pursue further value-accretive opportunities.
More about Empire Resources Limited
Empire Resources Limited is an Australian gold and copper-focused exploration and development company. It owns the Yuinmery Copper-Gold Project in the Youanmi Greenstone Belt northeast of Perth and the Penny’s Gold Project in the Eastern Goldfields Region near Kalgoorlie, and aims to build a sustainable, profitable mineral business through exploration and value-accretive investments.
Average Trading Volume: 3,702,342
Technical Sentiment Signal: Sell
Current Market Cap: A$18.47M
Find detailed analytics on ERL stock on TipRanks’ Stock Analysis page.