Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Stavely Minerals Ltd ( (AU:SVY) ) just unveiled an update.
Stavely Minerals has secured binding commitments for a heavily oversubscribed A$4 million placement to sophisticated and institutional investors at A$0.0115 per share, a discount to recent trading prices. The two-tranche raising, which includes reduced but continued participation from a director, underlines strong backing from major shareholders for the company’s development and exploration strategy.
Proceeds will fund completion of the Thursday’s Gossan Scoping Study, early pre-feasibility work, exploration targeting and drilling, as well as working capital. Management expects the upcoming study and follow-up field programs to demonstrate a robust copper-gold-silver development case and to capitalise on the perceived large-scale potential across Stavely’s extensive volcanic arc tenure, potentially strengthening its future project pipeline and valuation.
More about Stavely Minerals Ltd
Stavely Minerals Ltd is an Australian mineral exploration company focused on copper, gold and silver projects, including the Thursday’s Gossan prospect in western Victoria. The company targets volcanic arc terrains with more than 130km of prospective strike under its control, aiming to advance discoveries such as the Freddy’s Find gold prospect through drilling and detailed geophysical and geochemical work.
Average Trading Volume: 1,260,956
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$9.59M
For detailed information about SVY stock, go to TipRanks’ Stock Analysis page.