Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Xstate Resources Limited ( (AU:XST) ) has shared an update.
Xstate Resources Limited announced the disposal of its 20% interest in the Anshof project in Austria, transferring its obligations to Kathari Energia GmbH. This strategic move allows Xstate to concentrate on its Diona project in Australia, where it has acquired a 51% working interest and is preparing for drilling. The company is also in the process of re-listing its shares on the ASX, aiming to raise between $2m and $3m. The financial report indicates a decrease in cash balance to A$2.488m, reflecting the company’s ongoing strategic realignment.
More about Xstate Resources Limited
Xstate Resources Limited operates in the oil and gas industry, focusing on exploration and production activities. The company maintains a portfolio of assets primarily in California, USA, with interests in various oil and gas leases. It is actively involved in enhancing its projects and exploring new opportunities to monetize its assets.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$6.45M
Learn more about XST stock on TipRanks’ Stock Analysis page.