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QX Resources Ltd ( (AU:QXR) ) has issued an update.
QX Resources has secured firm commitments to raise A$1.23 million through a share placement priced at A$0.005 per share, including A$1 million from new and existing institutional investors and an additional A$230,000 from directors subject to shareholder approval. The capital will fund an intensive 2026 exploration program at the Madaba Uranium Project in southern Tanzania, including a high-resolution heli-borne radiometric survey ahead of a planned maiden drill campaign in late Q2 2026, as the company seeks to test Madaba’s potential analogy to the large sandstone-hosted Nyota Uranium Deposit and capitalise on strengthening uranium market fundamentals; QX also noted that a previously agreed farm-out over iron ore rights at its Western Shaw Project has lapsed due to unmet expenditure requirements, though discussions to revive the earn-in are continuing.
The most recent analyst rating on (AU:QXR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on QX Resources Ltd stock, see the AU:QXR Stock Forecast page.
More about QX Resources Ltd
QX Resources Limited is an Australian Securities Exchange-listed exploration company focused on advancing mineral projects, with a current strategic emphasis on uranium exploration at the Madaba Uranium Project in Tanzania’s highly prospective Luwegu Basin. The company also holds interests in other commodities, including iron ore at its Western Shaw Project in Western Australia.
Technical Sentiment Signal: Sell
Current Market Cap: A$9.54M
See more data about QXR stock on TipRanks’ Stock Analysis page.