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BlackEarth Minerals NL ( (AU:EVG) ) has issued an update.
Evion Group NL, a company involved in the graphite industry, has successfully raised $1.33 million through a Rights Issue, priced at 2.3 cents per share, to boost its operations. The funds will be used to expand plant capacity in India, finalize requirements for a project in Madagascar, update a study related to battery anode materials, and for general working capital. The announcement also includes a Bonus Options Offer for eligible shareholders, allowing them to acquire options at a subscription price of 0.3 cents per share, with an exercise price of 3.3 cents per share. This strategic financial move supports Evion’s plans to increase production and engage with potential new customers, enhancing its market position and outlook.
More about BlackEarth Minerals NL
YTD Price Performance: -11.11%
Average Trading Volume: 415,766
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$8.33M
See more insights into EVG stock on TipRanks’ Stock Analysis page.
