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Genmin Ltd. ( (AU:GEN) ) has shared an update.
Genmin Limited has announced a non-binding term sheet for a US$3 million convertible notes offer with ID Advisors LLC, a sophisticated family office in the United States. The funds raised will be used to advance the development of the Baniaka iron ore project and for general working capital. This partnership with a prominent entity in the global iron ore and steel industry signifies confidence in Genmin’s operations and is expected to aid in moving the Baniaka project towards production by 2026.
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, primarily focused on the development of its Baniaka iron ore project in the Republic of Gabon, West Central Africa. The company operates within the mining industry, with a market focus on iron ore production.
Average Trading Volume: 821,612
Technical Sentiment Signal: Sell
Current Market Cap: A$23.07M
For a thorough assessment of GEN stock, go to TipRanks’ Stock Analysis page.