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Sultan Resources Ltd. ( (AU:SLZ) ) has issued an update.
Sultan Resources Ltd has announced an increase in its placement size, receiving an additional $100,000 from sophisticated investors, bringing the total proposed funds to $1.1 million. This capital will be raised through the issuance of 122,222,222 placement shares and 61,111,111 placement options, with a portion subject to shareholder approval at the upcoming annual general meeting. This financial maneuver is part of Sultan’s broader strategy to enhance its exploration capabilities and strengthen its position in the market.
More about Sultan Resources Ltd.
Sultan Resources is an Australian-focused exploration company with a portfolio of quality assets in emerging discovery terranes. The company is focused on acquiring the Damara Gold project in Namibia, as well as the Narndee Nickel-PGE project and Niobe Rubidium deposit. Sultan’s new board and management are pursuing a systematic exploration strategy to unlock gold and base metal discoveries using modern techniques to drive value for shareholders.
Average Trading Volume: 7,369,849
Technical Sentiment Signal: Sell
Current Market Cap: A$6.02M
See more insights into SLZ stock on TipRanks’ Stock Analysis page.