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Norfolk Metals Ltd. ( (AU:NFL) ) has issued an announcement.
Norfolk Metals Limited has completed a private placement of 20,000,000 fully paid ordinary shares to professional and sophisticated investors, expanding its capital base without issuing a prospectus under Australia’s Corporations Act. The company states it remains compliant with its financial reporting and continuous disclosure obligations and confirms there is no undisclosed price-sensitive information, signalling to existing and prospective shareholders that the new securities are freely tradable on the same regulatory footing as its existing shares and that the equity raising is being conducted within the standard governance framework for ASX-listed issuers.
The most recent analyst rating on (AU:NFL) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Norfolk Metals Ltd. stock, see the AU:NFL Stock Forecast page.
More about Norfolk Metals Ltd.
Norfolk Metals Limited (ASX: NFL) is an Australian-listed company operating in the resources sector, with its activities centred on mineral exploration and development, and its shareholder base including professional and sophisticated investors active in small-cap mining and exploration equities.
Average Trading Volume: 195,824
Technical Sentiment Signal: Buy
Current Market Cap: A$8.89M
Learn more about NFL stock on TipRanks’ Stock Analysis page.