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Pure Resources Limited ( (AU:PR1) ) just unveiled an update.
Pure Resources Limited has successfully raised $1.7 million through a placement of 11,333,333 shares, with funds primarily allocated to advancing its Garnet Hills Garnet and Graphite Project in Western Australia. The project shows promising potential due to the presence of large to jumbo flake graphite, which supports premium pricing. Additionally, the company completed a priority and shortfall offer, issuing 36,751,289 options to former option holders, and is working to have these options quoted on the ASX. This strategic move aims to enhance Pure’s operational capabilities and strengthen its position in the battery metals market.
More about Pure Resources Limited
Pure Resources Limited is an Australian company focused on becoming a leading player in the battery metals sector, with interests in nickel, copper, and ambitions to expand into lithium, rare earths, and graphite. The company is listed on the ASX and is actively involved in developing its existing portfolio and exploring new project opportunities.
Average Trading Volume: 41,551
Technical Sentiment Signal: Buy
Current Market Cap: A$8.28M
Learn more about PR1 stock on TipRanks’ Stock Analysis page.