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An update from FireFly Metals ( (AU:FFM) ) is now available.
FireFly Metals has doubled its share purchase plan to A$10 million after receiving applications totalling about A$31 million from eligible retail shareholders, reflecting strong demand and support for the company’s Green Bay Copper Gold Project. Conducted alongside a roughly A$139 million equity raising through an institutional placement, a Canadian bought deal offering and a charity flow-through placement, the capital initiatives are expected to leave FireFly with about A$246.9 million in cash before costs, funding a nine‑rig drilling program, resource growth and upgrade work, underground development, pre‑construction activities, mining studies and working capital, while the scaled-back SPP allocations were structured to limit dilution and distribute shares as equitably as possible among participants.
The most recent analyst rating on (AU:FFM) stock is a Buy with a A$2.45 price target. To see the full list of analyst forecasts on FireFly Metals stock, see the AU:FFM Stock Forecast page.
More about FireFly Metals
FireFly Metals Ltd is an Australian and Canadian dual-listed resources company focused on the Green Bay Copper Gold Project, where it is advancing mineral resource growth and development. The company’s strategy centres on intensive drilling, underground development and pre-construction work to progress the project toward potential production and create value for its shareholder base, which includes a sizable retail component.
YTD Price Performance: 128.11%
Average Trading Volume: 3,960,317
Technical Sentiment Signal: Buy
Current Market Cap: A$1.61B
Find detailed analytics on FFM stock on TipRanks’ Stock Analysis page.