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The latest update is out from Bastion Minerals Ltd ( (AU:VTA) ).
Vita Resources NL has completed a $100,000 capital raising from sophisticated and professional investors through a placement of new ordinary shares priced at $0.0414, accompanied by a new class of partly paid shares on a two-for-three basis. The funds will be directed to working capital, supporting the company’s operational flexibility.
The newly introduced partly paid shares are structured as $0.04 shares paid to $0.001, with $0.039 unpaid and no calls permitted before 12 September 2030, and holders face forfeiture if they do not meet any future call. These contributing shares offer voting, dividend and new-issue participation rights on a pro-rata basis and are freely transferable, giving Vita a flexible capital management tool that aligns with common practices in Australia’s mining and exploration industry and may broaden its investor appeal.
More about Bastion Minerals Ltd
Vita Resources NL is an Australian mining and exploration company listed on the ASX under the code VTA. The company focuses on resource projects and uses equity market instruments to fund its working capital and ongoing activities within the mining and exploration sector.
Average Trading Volume: 149,519
Technical Sentiment Signal: Sell
Current Market Cap: A$2.93M
Learn more about VTA stock on TipRanks’ Stock Analysis page.