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Genmin Ltd. ( (AU:GEN) ) has issued an update.
Genmin Limited has secured a total of A$1.0 million in funding through loans from its Board Chair, Greg Lilleyman, and non-executive Director, John Hodder. The loans, which are unsecured and accrue interest at 12% per annum, will be used for general working capital as the company advances its Baniaka iron ore project. This financial support demonstrates confidence in Genmin’s operations and its strategic positioning in the iron ore industry.
The most recent analyst rating on (AU:GEN) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Genmin Ltd. stock, see the AU:GEN Stock Forecast page.
More about Genmin Ltd.
Genmin Limited is an emerging African iron ore producer focused on developing its flagship Baniaka iron ore project located in the Republic of Gabon, West Central Africa.
Average Trading Volume: 790,912
Technical Sentiment Signal: Sell
Current Market Cap: A$24.84M
For a thorough assessment of GEN stock, go to TipRanks’ Stock Analysis page.