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Xstate Resources Limited ( (AU:XST) ) just unveiled an update.
Xstate Resources Limited has issued a re-compliance prospectus to raise between $2.0 million and $3.0 million through the offering of up to 150 million shares. This capital raising is part of the company’s strategy to acquire a 51% interest in the Diona Project from Elixir Energy, which represents a significant change in the scale of its operations. The success of this offer is contingent upon shareholder approval and meeting ASX re-compliance requirements. The company’s shares are currently suspended and will remain so until these conditions are fulfilled, impacting its market presence and stakeholder interests.
More about Xstate Resources Limited
Xstate Resources Limited operates in the energy sector, focusing on acquiring and developing energy projects. The company is currently engaged in expanding its operations through strategic acquisitions, such as the Diona Project.
Technical Sentiment Signal: Sell
Current Market Cap: A$2.89M
For detailed information about XST stock, go to TipRanks’ Stock Analysis page.