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The latest announcement is out from Pure Resources Limited ( (AU:PR1) ).
Pure Resources Limited has completed a $1.7 million equity placement, issuing 11,333,333 fully paid ordinary shares at $0.15 each under its existing placement capacity, with the new shares ranking pari passu with existing stock. Subject to shareholder approval expected in the first quarter of 2026, investors in the placement will also receive one free option for every three shares, totaling 3,777,778 options exercisable at $0.25 and expiring in December 2028. The funds raised are earmarked primarily to advance the company’s Garnet Hills Garnet and Graphite Project in Western Australia, as well as to support general working capital, bolstering Pure Resources’ efforts to build a stronger position in battery metals and related critical mineral markets.
More about Pure Resources Limited
Pure Resources Limited is an ASX-listed battery metals-focused company with a portfolio of nickel and copper assets and a stated strategy to expand into lithium, rare earths and graphite projects. Its core development focus includes the Garnet Hills Garnet and Graphite Project in Western Australia, positioning the company within the broader energy transition and battery materials supply chain.
Average Trading Volume: 41,275
Technical Sentiment Signal: Buy
Current Market Cap: A$8.84M
For a thorough assessment of PR1 stock, go to TipRanks’ Stock Analysis page.