PhosCo Ltd ( (AU:PHO) ) has issued an announcement.
PhosCo Ltd has announced a non-renounceable entitlement offer to raise approximately $6 million, fully underwritten by Westar Capital Limited. The funds will support exploration work, metallurgical testwork, and scoping study updates for the company’s projects, as well as cover offer costs and boost working capital. This initiative is expected to strengthen PhosCo’s operational capabilities and market position, providing opportunities for eligible shareholders in Australia, New Zealand, and Guernsey to participate in the growth of the company.
More about PhosCo Ltd
PhosCo Ltd is a company involved in the exploration and development of mineral resources, focusing on projects such as the Gasaat and Sekarna Exploration Permits. The company is positioned in the mining industry and aims to enhance its operations through strategic capital raising initiatives.
YTD Price Performance: -5.71%
Average Trading Volume: 77,736
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$19.02M
See more insights into PHO stock on TipRanks’ Stock Analysis page.