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Greenland Minerals Limited ( (AU:ETM) ) has provided an announcement.
Energy Transition Minerals has secured firm commitments from institutional, professional and sophisticated investors to raise A$24.7 million via a discounted share placement at A$0.13 per share, boosting its pro forma cash position to A$56.59 million and bringing new international institutional investors onto its register. The funds will be used to extend and re-establish on-the-ground activities and infrastructure in Greenland for the Kvanefjeld project, complete the Penouta acquisition and review its operations, advance the company’s US strategy, and maintain reserves for ongoing arbitration and litigation, underscoring Kvanefjeld’s role as a cornerstone project for Greenland’s economy and a key asset in the global shift to sustainable energy technologies.
The most recent analyst rating on (AU:ETM) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Greenland Minerals Limited stock, see the AU:ETM Stock Forecast page.
More about Greenland Minerals Limited
Energy Transition Minerals Ltd is an ASX-listed resources company focused on the development of the Kvanefjeld rare earths project in Greenland, positioned as a strategically significant asset for the global energy transition. The company targets critical minerals used in sustainable energy and advanced technologies and is expanding its presence and operations within Greenland while pursuing complementary growth opportunities such as the Penouta acquisition and a planned US strategy.
Average Trading Volume: 6,590,205
Technical Sentiment Signal: Buy
Current Market Cap: A$337.3M
See more data about ETM stock on TipRanks’ Stock Analysis page.