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Strickland Metals Ltd ( (AU:STK) ) has issued an update.
Strickland Metals Ltd has completed the in-specie distribution of 1.2 billion convertible preference shares in Gateway Mining Limited to its shareholders, following the sale of its Yandal Project to Gateway. This strategic move allows Strickland shareholders to receive Gateway shares, which will convert into ordinary shares, enhancing their investment portfolio. Strickland retains a 15.7% stake in Gateway, positioning itself to benefit from Gateway’s future growth. The company is seeking a tax ruling from the Australian Commissioner of Taxation regarding the distribution’s tax implications, although the outcome remains uncertain.
The most recent analyst rating on (AU:STK) stock is a Buy with a A$0.43 price target. To see the full list of analyst forecasts on Strickland Metals Ltd stock, see the AU:STK Stock Forecast page.
More about Strickland Metals Ltd
Strickland Metals Ltd operates in the mining industry, focusing on the exploration and development of mineral resources. The company is involved in projects that aim to extract valuable minerals and metals, contributing to the supply chain of raw materials.
Average Trading Volume: 3,198,049
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$305.4M
For detailed information about STK stock, go to TipRanks’ Stock Analysis page.