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Lykos Metals Limited ( (AU:YUG) ) has provided an update.
Yugo Metals Limited has received a VAT refund of approximately AUD $385,000 from Bosnia-Herzegovina’s indirect taxation authority, which, combined with a recent $3.5 million capital raise, strengthens its financial position. This financial boost supports the company’s strategic growth initiatives, including the commencement of drilling at its gold targets in Bosnia-Herzegovina, and highlights improved relations with local authorities, reinforcing Yugo’s position as a financially sound and growth-oriented enterprise.
More about Lykos Metals Limited
Yugo Metals Limited (ASX:YUG) is a Perth-based exploration company with projects in Bosnia and Herzegovina. The company focuses on battery and precious metals exploration, with its projects located in the Tethyan metallogenic belt, a highly prospective mining region in Europe. Yugo aims to deliver significant shareholder value by advancing its three base and precious metals projects, which are strategically positioned near core infrastructure and transport routes to Europe’s battery manufacturing supply chain.
Average Trading Volume: 498,396
Technical Sentiment Signal: Buy
For a thorough assessment of YUG stock, go to TipRanks’ Stock Analysis page.