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Aeris Resources Limited ( (AU:AIS) ) has shared an announcement.
Aeris Resources Limited has successfully completed an $80 million institutional placement and launched a $10 million share purchase plan. The capital raised will be used to repay a loan facility, accelerate exploration and growth projects, and enhance the company’s financial position by leaving it with $62 million in cash and no debt. This strategic move is expected to strengthen Aeris’s operations and market positioning, benefiting stakeholders by supporting further exploration and development initiatives.
The most recent analyst rating on (AU:AIS) stock is a Buy with a A$0.66 price target. To see the full list of analyst forecasts on Aeris Resources Limited stock, see the AU:AIS Stock Forecast page.
More about Aeris Resources Limited
Aeris Resources Limited is an established Australian copper-gold producer and explorer. The company focuses on the exploration and production of copper and gold, with a market presence that includes both domestic and international institutional investors.
Average Trading Volume: 5,326,575
Technical Sentiment Signal: Buy
Current Market Cap: A$505.1M
For a thorough assessment of AIS stock, go to TipRanks’ Stock Analysis page.