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Linq Minerals Limited ( (AU:LNQ) ) just unveiled an announcement.
LinQ Minerals has secured firm commitments for a heavily oversubscribed A$15.4 million institutional placement at A$0.55 per share, a discount to its recent trading levels, with participants also receiving free attaching options. The raise, which significantly institutionalises the share register and will leave LinQ with around A$20 million in cash after costs, is earmarked to accelerate extensional, resource and high-priority target drilling at the Gilmore Gold-Copper Project, with two drill rigs mobilising shortly and a third expected this quarter, underscoring a step-up in exploration momentum and potential value creation for shareholders.
The most recent analyst rating on (AU:LNQ) stock is a Buy with a A$0.90 price target. To see the full list of analyst forecasts on Linq Minerals Limited stock, see the AU:LNQ Stock Forecast page.
More about Linq Minerals Limited
LinQ Minerals Limited is an ASX-listed mineral exploration company focused on the Gilmore Gold-Copper Project, where it is pursuing aggressive drilling and resource growth. The company targets gold and copper assets, positioning itself within the precious and base metals exploration space with a growing institutional shareholder base.
Average Trading Volume: 783,619
Technical Sentiment Signal: Strong Buy
For detailed information about LNQ stock, go to TipRanks’ Stock Analysis page.