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Battery Minerals Ltd. ( (AU:WTM) ) has provided an announcement.
Waratah Minerals has secured firm commitments to raise A$48 million through a share placement at A$0.62 per share to institutional, sophisticated and professional investors. The raise, completed at roughly a 12% discount to the last closing price, attracted strong support from leading Australian and North American institutions, broadening and strengthening the company’s shareholder base.
Proceeds will fund an aggressive drilling and exploration program at the Spur Gold Project, including extensional and resource drilling at the Spur and Consols zones and exploration at Gazzards, Alpine and Ironclad. With 10 drill rigs already on site and additional work planned in metallurgical testing, geochemistry and geophysics, the capital injection is set to significantly ramp up activity and underpin Waratah’s push toward a maiden Mineral Resource Estimate for Spur in early 2027.
The most recent analyst rating on (AU:WTM) stock is a Buy with a A$0.95 price target. To see the full list of analyst forecasts on Battery Minerals Ltd. stock, see the AU:WTM Stock Forecast page.
More about Battery Minerals Ltd.
Waratah Minerals Limited is an Australian gold exploration company listed on the ASX and focused on advancing its 100%-owned Spur Gold Project. The company is positioning itself as a leading pre-mineral resource gold explorer, targeting resource growth and new discoveries across multiple gold zones within the Spur project area.
Average Trading Volume: 936,179
Technical Sentiment Signal: Buy
Current Market Cap: A$218.7M
Learn more about WTM stock on TipRanks’ Stock Analysis page.