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Metals X Limited ( (AU:MLX) ) has provided an update.
Metals X Limited has committed A$17 million to a strategic private placement in Stellar Resources Limited, subscribing for 515,151,515 new shares at A$0.033 each.
The investment will give Metals X about 16.4% of Stellar’s expanded issued capital and a board seat, strengthening its exposure to Stellar’s Heemskirk Tin Project after recent resource and metallurgical upgrades highlighted the project’s quality.
The most recent analyst rating on (AU:MLX) stock is a Buy with a A$1.50 price target. To see the full list of analyst forecasts on Metals X Limited stock, see the AU:MLX Stock Forecast page.
More about Metals X Limited
Metals X Limited is an Australian-listed resources company (ASX: MLX) focused on base metals, with a particular emphasis on tin. Operating from South Perth, Western Australia, the company invests in and develops mining assets and projects, positioning itself within the broader Australian mining and resources sector.
Average Trading Volume: 4,925,148
Technical Sentiment Signal: Buy
Current Market Cap: A$1.25B
For an in-depth examination of MLX stock, go to TipRanks’ Overview page.