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An update from Medallion Metals Ltd ( (AU:MM8) ) is now available.
Medallion Metals has secured a waiver from the ASX to proceed with its Share Purchase Plan (SPP) at an offer price of A$0.33 per share, a 20.8% discount to the five-day VWAP, without drawing on its placement capacity or seeking shareholder approval. The waiver allows the SPP to be conducted on the same pricing terms as the recent institutional placement, including participation by related parties, while capping issuance at 30% of existing share capital and keeping expected dilution at about 1.94%, thereby enabling a timely, cost-efficient capital raise that offers retail shareholders equal access to the discounted pricing enjoyed by institutional investors.
The most recent analyst rating on (AU:MM8) stock is a Hold with a A$0.42 price target. To see the full list of analyst forecasts on Medallion Metals Ltd stock, see the AU:MM8 Stock Forecast page.
More about Medallion Metals Ltd
Medallion Metals Ltd (ASX: MM8) is an Australian-listed resources company that raises capital on the ASX to fund its activities, offering equity placements and share purchase plans to institutional, sophisticated and retail investors within the local market.
Average Trading Volume: 1,328,879
Technical Sentiment Signal: Buy
Current Market Cap: A$332.7M
See more insights into MM8 stock on TipRanks’ Stock Analysis page.