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Reach Resources Limited ( (AU:RR1) ) has provided an announcement.
Reach Resources Limited has launched a pro‑rata non‑renounceable entitlement offer of two new shares for every five held by eligible shareholders, priced at $0.009 per share to raise up to approximately $3.15 million. The offer is open to shareholders with registered addresses in Australia, New Zealand and Singapore as at 31 March 2026, with any fractional entitlements rounded up.
Funds raised will be directed towards exploration of the company’s existing projects, evaluation of new acquisitions, general working capital and costs of the offer, potentially issuing about 349.8 million new shares and lifting total shares on issue to around 1.22 billion. Any entitlements not taken up will form a shortfall to be placed at the discretion of lead manager Westar Capital and the board, meaning the raising could significantly expand the register and support Reach’s growth plans if fully subscribed.
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 (ASX: RR1) is an Australian exploration company focused on advancing its existing resource projects and assessing new acquisition opportunities. The company operates primarily in Australia and aims to deploy fresh capital into exploration activities while maintaining sufficient working capital for ongoing operations.
Average Trading Volume: 3,589,326
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$12.24M
Find detailed analytics on RR1 stock on TipRanks’ Stock Analysis page.