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RareX Limited ( (AU:REE) ) just unveiled an announcement.
RareX Limited has successfully raised A$2 million through a share placement to institutional, sophisticated, and professional investors, demonstrating strong interest at a premium to the 15-day volume-weighted average price. This capital injection will enable RareX to advance its exploration and development projects, including the Mt Mansbridge heavy rare earths exploration, licensing of the Cummins Range carbonatite, and the Mrima Hill project in collaboration with Iluka Resources. The funding highlights the company’s strategic focus on expanding its rare earths portfolio and strengthening its market position.
More about RareX Limited
RareX Limited is an Australian company operating in the rare earths industry. The company focuses on the exploration and development of rare earth elements, with a particular emphasis on heavy rare earths. Its key projects include Mt Mansbridge, Cummins Range, and Mrima Hill, which involve rare earths, gallium, scandium, phosphate, and niobium.
Average Trading Volume: 5,251,051
Technical Sentiment Signal: Buy
Current Market Cap: A$24.84M
For a thorough assessment of REE stock, go to TipRanks’ Stock Analysis page.