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Lachlan Star ( (AU:LSA) ) just unveiled an update.
Lachlan Star Limited has secured firm commitments to raise $7.47 million through a share placement priced at $0.12 per share, attracting strong support from existing shareholders and new sophisticated and institutional investors. The placement includes a major tranche to external investors and a smaller tranche for directors, with the issue price set at a discount to recent trading and Bell Potter acting as lead manager.
Proceeds will fund an accelerated exploration campaign at the New Waverley Gold Project in Western Australia’s Norseman region, where the company plans systematic drilling to test high-potential quartz reef targets and validate historical high-grade intersections. The capital injection also underpins ongoing work at the neighbouring Killaloe Project, giving Lachlan Star a stronger financial platform to advance its broader growth strategy and potentially enhance its position in the regional gold exploration space.
The most recent analyst rating on (AU:LSA) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Lachlan Star stock, see the AU:LSA Stock Forecast page.
More about Lachlan Star
Lachlan Star Limited is an ASX-listed mineral exploration company focused on discovering gold and copper resources across high-potential projects in Western Australia and central New South Wales. Its portfolio includes the New Waverley and Killaloe projects in the highly endowed Norseman gold region of WA, as well as the North Cobar, Bauloora North and Junee projects in the Lachlan Fold Belt of NSW.
The company targets under-explored but historically mineralised corridors, aiming to delineate high-grade gold and copper deposits that can support long-term growth. Its strategy centres on systematic drilling, validation of historical intersections and regional exploration to build a pipeline of advanced prospects in established mining jurisdictions.
YTD Price Performance: 188.46%
Average Trading Volume: 773,786
Technical Sentiment Signal: Hold
Current Market Cap: A$46.25M
For detailed information about LSA stock, go to TipRanks’ Stock Analysis page.