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Torque Metals Ltd. ( (AU:TOR) ) just unveiled an announcement.
Torque Metals has recruited a high-profile exploration and development team from Spartan Resources, including Simon Lawson as chairman-elect, Craig Jones as CEO and managing director-elect, and David Coyne as non-executive director-elect. The trio were instrumental in Spartan’s transformation through the high-grade Never Never and Pepper discoveries, which ultimately underpinned Spartan’s multibillion-dollar merger with Ramelius Resources.
The new leadership group will cornerstone a $3 million equity raising at $0.27 per share, giving Torque a pro-forma cash balance of about $19 million to accelerate exploration across the Paris Gold Project and its wider Kalgoorlie landholding. With deep technical, operational and capital markets experience, the board expects the team to pursue a discovery-led strategy aimed at unlocking high-grade resources and positioning the Paris project for a future transition to development and production.
The most recent analyst rating on (AU:TOR) stock is a Hold with a A$0.37 price target. To see the full list of analyst forecasts on Torque Metals Ltd. stock, see the AU:TOR Stock Forecast page.
More about Torque Metals Ltd.
Torque Metals Ltd. is an Australian gold exploration company focused on its flagship Paris Gold Project, located about 100km south of Kalgoorlie in one of the world’s premier gold mining districts. The company controls an extensive 1,200km² underexplored land package in the broader Kalgoorlie region, targeting high-grade gold discoveries within a prolific Western Australian gold belt.
Average Trading Volume: 1,534,165
Technical Sentiment Signal: Buy
Current Market Cap: A$220.7M
For a thorough assessment of TOR stock, go to TipRanks’ Stock Analysis page.