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The latest update is out from FireFly Metals ( (AU:FFM) ).
FireFly Metals Ltd has announced the doubling of its Share Purchase Plan (SPP) to A$10 million due to strong demand from retail shareholders. The SPP, which initially targeted A$5 million, received applications totaling approximately A$28.2 million, prompting the company to increase the offering. This move is part of a broader equity raising effort, which includes a charity flow-through placement, an institutional placement, and a Canadian bought deal offering, collectively raising around A$98.1 million. The funds will be used to enhance the Green Bay Copper Gold Project, including adding an eighth drill rig to accelerate exploration and development. This expansion is expected to bolster the company’s resource base and shareholder value, positioning FireFly for significant growth in the mining sector.
The most recent analyst rating on (AU:FFM) stock is a Buy with a A$1.75 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 a company operating in the mining industry, focusing on mineral resources. Its primary projects include the Green Bay Copper Gold Project, where it is engaged in activities such as underground development, pre-construction works, and mining studies. The company is listed on both the Australian Securities Exchange (ASX) and the Toronto Stock Exchange (TSX) under the ticker FFM.
Average Trading Volume: 2,113,957
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$733.1M
For an in-depth examination of FFM stock, go to TipRanks’ Overview page.