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The latest announcement is out from Riedel Resources Limited ( (AU:RIE) ).
Riedel Resources Limited has completed a pro rata non-renounceable entitlement offer to existing shareholders, issuing 15,361,303 new shares at $0.025 each and setting up the placement of a further 55,966,888 shortfall shares, for total potential proceeds of about $1.78 million before costs. The board has mandated 708 Capital Pty Ltd to place the shortfall shares, with fees including cash and unlisted options, providing Riedel with additional funding capacity to support its exploration activities and advance its Kingman Gold Project, potentially strengthening its capital position and operational momentum in the junior gold exploration sector.
More about Riedel Resources Limited
Riedel Resources Limited is an emerging mineral exploration company focused on advancing the historic high-grade Kingman Gold Project in north-west Arizona, USA.
Average Trading Volume: 421,383
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.78M
Find detailed analytics on RIE stock on TipRanks’ Stock Analysis page.