Patagonia Lithium Limited ( (AU:PL3) ) just unveiled an announcement.
Patagonia Lithium Limited has announced a strategic financial maneuver involving a private placement and an entitlement offer to raise funds for its ongoing projects. The company will issue 12.5 million shares to Magnus Capital S.A., raising A$1 million, and conduct a pro-rata non-renounceable entitlement offer to raise approximately A$2.56 million. The funds will support the completion of a drilling program in Argentina, update a Mineral Resource estimate, and provide general working capital. The entitlement offer is fully underwritten by Dr. Jose Manzano, who will also nominate a new board director, signaling a strengthened position for Patagonia in the resource sector.
More about Patagonia Lithium Limited
Patagonia Lithium Limited operates in the energy sector, focusing on lithium mining and energy transition projects. The company’s market focus includes expanding its investment portfolio in publicly and privately owned mining and energy transition projects.
YTD Price Performance: -8.75%
Average Trading Volume: 176,208
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$5.46M
For detailed information about PL3 stock, go to TipRanks’ Stock Analysis page.