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An announcement from OzAurum Resources Ltd. ( (AU:OZM) ) is now available.
Forrestania Resources has entered into a strategic investment agreement to acquire a 19.9% stake in OzAurum Resources via a A$4.1 million share placement, subscribing for 56.9 million new shares at A$0.072 each, in line with OzAurum’s recent 10-day volume-weighted average price. The deal gives Forrestania meaningful exposure to OzAurum’s near-term gold development at the James Stage 1 Open Pit within the Mulgabbie North Project, reinforcing Forrestania’s strategy of disciplined portfolio growth through selective acquisitions and strategic stakes in advanced Western Australian gold assets, and signalling confidence in OzAurum’s recent high-grade drilling results and development pathway.
The most recent analyst rating on (AU:OZM) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on OzAurum Resources Ltd. stock, see the AU:OZM Stock Forecast page.
More about OzAurum Resources Ltd.
OzAurum Resources Ltd is an Australian gold exploration and development company focused on advancing its Mulgabbie North Project in the Eastern Goldfields of Western Australia, where it is progressing heap leach development at the James Stage 1 Open Pit.
Average Trading Volume: 694,740
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$18.33M
See more insights into OZM stock on TipRanks’ Stock Analysis page.