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Prospech Ltd. ( (AU:PRS) ) has shared an announcement.
Prospech Limited has announced a renounceable rights issue to raise up to approximately $1.6 million, offering a 2-for-7 rights issue priced at 1.5 cents per share, which is a 32% discount to the 30-day VWAP. The funds will be used to advance the company’s rare earth metallurgical work and exploration projects, with directors committing to participate in the entitlements. The rights issue is partially underwritten by Mahe Capital Pty Ltd for $600,000, and the company views this fundraising as a significant step in its value creation journey.
More about Prospech Ltd.
Prospech Limited operates in the mining industry, focusing on rare earth metallurgical work and exploration projects in Finland and Slovakia.
Average Trading Volume: 573,843
Technical Sentiment Signal: Sell
Current Market Cap: A$6.82M
For a thorough assessment of PRS stock, go to TipRanks’ Stock Analysis page.