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Sipa Resources Limited ( (AU:SRI) ) has issued an update.
Sipa Resources Limited has successfully completed a capital raising initiative, securing A$1.61 million through the issuance of 114.8 million fully paid ordinary shares priced at 1.4 cents each. This capital will fund ongoing and future exploration programs, including RC and aircore drilling at various sites in South Australia and Western Australia. The placement received strong backing from existing shareholders and new investors, with participation from all four company directors pending shareholder approval. This financial boost is expected to enhance Sipa’s exploration capabilities and strengthen its market position.
More about Sipa Resources Limited
Average Trading Volume: 1,744,998
Technical Sentiment Signal: Buy
Current Market Cap: A$8.33M
See more data about SRI stock on TipRanks’ Stock Analysis page.