RareX Issues 4 Million New Shares as It Advances Critical Minerals Portfolio

RareX Limited ( (AU:REE) ) just unveiled an update.

RareX Limited has issued 4,000,000 new ordinary shares, advising that the shares were issued without a prospectus under the Corporations Act and confirming its ongoing compliance with financial reporting and continuous disclosure obligations. The company also stated there is no excluded information relevant to the new share issue, signalling a routine capital management step that supports its ongoing development and optimisation of a portfolio centred on the Cummins Range rare earths and phosphate project and other carbonatite-hosted critical mineral assets.

The most recent analyst rating on (AU:REE) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on RareX Limited stock, see the AU:REE Stock Forecast page.

More about RareX Limited

RareX Limited is an Australian critical minerals company focused on rare earths, gallium, niobium and scandium hosted in hard rock carbonatites. Its exploration portfolio includes the Mt Mansbridge heavy rare earths project near Browns Range, the Khaleesi Project in the East Yilgarn targeting elevated gallium and niobium, and near-mine anomalies at Cummins Range. The company’s main engineering and commercial effort is directed at the mid-study-level Cummins Range Project, a carbonatite-hosted rare earths and phosphate asset containing magnet-grade rare earths and battery-grade phosphates and described as Australia’s largest undeveloped rare earths project. RareX is also building a broader carbonatite project portfolio, including the newly acquired Piper Project, and holds investments in Kincora Copper, Cosmos Exploration and Canada Rare Earth Corporation.

Average Trading Volume: 6,593,198

Technical Sentiment Signal: Sell

Current Market Cap: A$25.39M

See more data about REE stock on TipRanks’ Stock Analysis page.