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MetalsTech Ltd ( (AU:MTC) ) has shared an update.
MetalsTech Limited has secured firm commitments to raise approximately $9.36 million via a discounted share placement, issuing 45.65 million new shares at $0.205 each, to accelerate work on its Sturec Gold Project. In parallel, the company will issue a further 9.76 million shares to convert $2 million of debt owed to Minerva Investment Company into equity, strengthening its balance sheet while funding a pre-feasibility study, additional resource and exploration drilling, environmental studies, community engagement and working capital, signaling stronger institutional support and a faster development timeline for its flagship project.
The most recent analyst rating on (AU:MTC) stock is a Hold with a A$0.27 price target. To see the full list of analyst forecasts on MetalsTech Ltd stock, see the AU:MTC Stock Forecast page.
More about MetalsTech Ltd
MetalsTech Limited is an ASX-listed resources company focused on developing the Sturec Gold Project, aiming to advance the asset through drilling, feasibility studies, and associated environmental and community work in the gold mining sector.
Average Trading Volume: 182,122
Technical Sentiment Signal: Buy
Current Market Cap: A$62.2M
For an in-depth examination of MTC stock, go to TipRanks’ Overview page.