Solstice Minerals raises A$32.6m to fast-track Nanadie copper-gold exploration

Solstice Minerals Limited ( (AU:SLS) ) has provided an announcement.

Solstice Minerals has raised A$32.6 million through a strongly supported placement of 32.6 million new shares at A$1.00 each to institutional and sophisticated investors, including specialist North American resource funds. The capital injection, completed at a discount to the last close but near recent volume-weighted averages, lifts Solstice’s expected cash reserves to about A$49.1 million before costs.

The funds will accelerate an extensive exploration and resource expansion program at the Nanadie Copper-Gold Project, including roughly 10,000m of Phase 2 reverse circulation drilling, diamond drilling, geophysical surveys and metallurgical testwork, alongside long-lead feasibility study items. Proceeds will also support ongoing gold exploration at the Yarri Project and working capital, positioning the company to potentially grow its mineral resource base and advance what management describes as a company-making asset in a competitive Australian copper sector.

The most recent analyst rating on (AU:SLS) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Solstice Minerals Limited stock, see the AU:SLS Stock Forecast page.

More about Solstice Minerals Limited

Solstice Minerals Limited is an Australian exploration company focused on copper and gold projects, with its flagship Nanadie Copper-Gold Project and the Yarri gold project in Western Australia. The company targets resource growth and project advancement through systematic drilling, geophysics, metallurgical work and early-stage feasibility study activities aimed at defining economically viable mineral resources.

Average Trading Volume: 876,208

Technical Sentiment Signal: Buy

Current Market Cap: A$144.8M

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