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Iris Metals Limited ( (AU:IR1) ) has issued an update.
IRIS Metals has issued 500,000 new shares following the conversion of performance rights and a further 5,341,878 fully paid ordinary shares at a deemed price of $0.09 as part consideration for the acquisition of the Ingersoll Property under a previously approved share sale agreement. The company has confirmed that these shares were issued without a prospectus under relevant Australian corporate law, that it remains compliant with its continuous disclosure and financial reporting obligations, and that there is no excluded information, effectively cleansing the new shares for secondary trading and supporting the ongoing consolidation of its critical minerals asset base in South Dakota.
The most recent analyst rating on (AU:IR1) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Iris Metals Limited stock, see the AU:IR1 Stock Forecast page.
More about Iris Metals Limited
IRIS Metals Limited is an exploration company focused on pegmatite-hosted critical minerals, including lithium, rubidium, caesium, tantalum and beryllium, with an extensive project area in western South Dakota, USA. Operating in a mining-friendly jurisdiction, the company is positioned to benefit from strong demand for battery metals and US government incentives for domestically sourced critical minerals.
Average Trading Volume: 595,702
Technical Sentiment Signal: Sell
Current Market Cap: A$47.3M
See more insights into IR1 stock on TipRanks’ Stock Analysis page.