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An announcement from Kalamazoo Resources Ltd. ( (AU:KZR) ) is now available.
Kalamazoo Resources has secured firm commitments for an $8 million share placement at $0.17 per share and launched a share purchase plan aimed at raising a further $2 million on the same terms, together targeting total proceeds of $10 million. The capital raising, supported by new and existing investors, will fund resource delineation and exploration drilling, progression of the Mt Olympus pre-feasibility study, additional exploration activities and general working capital, reinforcing Kalamazoo’s ongoing project development efforts and strengthening its financial position for its next phase of growth.
The most recent analyst rating on (AU:KZR) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Kalamazoo Resources Ltd. stock, see the AU:KZR Stock Forecast page.
More about Kalamazoo Resources Ltd.
Kalamazoo Resources Limited (ASX: KZR) is an Australian resources company focused on mineral exploration and resource delineation, with current work centred on advancing its Mt Olympus project through pre-feasibility studies and ongoing drilling programs. The company targets growth in its resource base and project pipeline within the broader mining and exploration sector, supported by capital market raisings on the ASX.
Average Trading Volume: 773,249
Technical Sentiment Signal: Buy
Current Market Cap: A$47.14M
See more data about KZR stock on TipRanks’ Stock Analysis page.