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Advance Metals Responds to ASX Query and Updates on Capital Raise

Story Highlights
  • Advance Metals Limited confirmed compliance with ASX rules and no undisclosed information was shared.
  • The company is progressing with a proposed capital raise and considers payments to Next Investors as material.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Advance Metals Responds to ASX Query and Updates on Capital Raise

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The latest update is out from Pacific American Holdings Ltd. ( (AU:AVM) ).

Advance Metals Limited (ASX:AVM) has clarified its position in response to an ASX query regarding its interactions with S3 Consortium Pty Ltd and East Coast Research. The company confirmed that no undisclosed information was shared with these entities and that it complied with Listing Rule 15.7. AVM also stated that it did not approve the contents of the East Coast Research report, which was considered a ‘public report’ under the JORC Code after further review. The company is progressing with a proposed capital raise and disclosed that the consideration paid to Next Investors is material.

More about Pacific American Holdings Ltd.

Average Trading Volume: 5,165,287

Technical Sentiment Signal: Hold

Current Market Cap: A$27.37M

See more data about AVM stock on TipRanks’ Stock Analysis page.

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