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The latest announcement is out from Red Mountain Mining Ltd ( (AU:RMX) ).
Red Mountain Mining Ltd announced a non-renounceable rights issue to raise approximately $193,499 through the issuance of RMXO Options to eligible shareholders. The funds will be used for antimony exploration, project assessment, and working capital. This move is aimed at strengthening the company’s operational capabilities and market position, although the offer is limited to shareholders in Australia and New Zealand due to regulatory considerations.
More about Red Mountain Mining Ltd
Red Mountain Mining Ltd operates in the mining industry, focusing on exploration and project assessment, particularly in antimony. The company is engaged in raising capital to support its exploration activities and working capital needs.
YTD Price Performance: -20.0%
Average Trading Volume: 5,910,543
Technical Sentiment Signal: Sell
Current Market Cap: A$4.64M
For an in-depth examination of RMX stock, go to TipRanks’ Overview page.