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Reach Resources Limited ( (AU:RR1) ) just unveiled an update.
Reach Resources Limited has launched a pro-rata non-renounceable rights issue, offering two new shares for every five held at $0.009 per share to raise up to $3.15 million. The offer, detailed in a prospectus lodged with regulators on 25 March 2026, is expected to increase the company’s total shares on issue to about 1.22 billion if fully subscribed.
Funds raised will be directed towards exploration of the company’s existing projects, evaluation of new acquisitions, general working capital and covering offer costs. The company has restricted participation to shareholders with registered addresses in Australia, New Zealand and Singapore, citing the cost and complexity of complying with overseas regulatory requirements for the small number of ineligible investors.
The most recent analyst rating on (AU:RR1) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Reach Resources Limited stock, see the AU:RR1 Stock Forecast page.
More about Reach Resources Limited
Reach Resources Limited is an Australian-listed exploration company focused on advancing its existing resource projects and assessing new acquisition opportunities. The company operates primarily in the mining and resources sector, deploying capital towards exploration activities and related working capital to expand its asset base and project pipeline.
Average Trading Volume: 3,589,326
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$12.24M
See more insights into RR1 stock on TipRanks’ Stock Analysis page.