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The latest announcement is out from Northern Minerals Limited ( (AU:NTU) ).
Northern Minerals Limited has successfully completed a $60.5 million placement to institutional and sophisticated investors, issuing over 1.18 billion new shares. The funds will advance the Browns Range Heavy Rare Earths Project, focusing on the Wolverine deposit, and repay a matured convertible note. This move positions Northern Minerals to progress towards a commercial-scale operation, potentially impacting the supply chain for dysprosium and terbium outside China.
The most recent analyst rating on (AU:NTU) stock is a Buy with a A$0.07 price target. To see the full list of analyst forecasts on Northern Minerals Limited stock, see the AU:NTU Stock Forecast page.
More about Northern Minerals Limited
Northern Minerals Limited is an Australian company focused on heavy rare earths, owning the Browns Range Heavy Rare Earths Project in Western Australia. The project is rich in dysprosium and terbium, critical elements for producing magnets used in clean energy, military, and high technology solutions. The company aims to provide an alternative source of these elements outside China, with its flagship Wolverine deposit being the highest-grade dysprosium and terbium ore body in Australia.
YTD Price Performance: 104.76%
Average Trading Volume: 30,653,365
Technical Sentiment Signal: Buy
Current Market Cap: A$359.4M
For an in-depth examination of NTU stock, go to TipRanks’ Overview page.