Terramin Australia Limited ( (AU:TZN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Terramin Australia Limited’s stock has experienced a downturn following the announcement of a non-renounceable rights issue aimed at raising up to A$38.3 million. This move is intended to bolster the company’s financial standing and support significant projects like Tala Hamza Zinc and Bird in Hand Gold. The rights issue offers a 20.2% discount to existing shareholders and is partially underwritten by Asipac Group Pty Ltd, which could affect the company’s financial structure and market position.
More about Terramin Australia Limited
YTD Price Performance: -47.78%
Average Trading Volume: 100,223
Technical Sentiment Signal: Sell
Current Market Cap: A$99.48M
For further insights into TZN stock on TipRanks’ Stock Analysis page.
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