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An announcement from Northern Minerals Limited ( (AU:NTU) ) is now available.
Northern Minerals Limited has successfully raised A$60.5 million through the issuance of over 1.18 billion new shares to institutional and sophisticated investors. This capital injection is part of the company’s strategy to advance the Browns Range Heavy Rare Earths Project, particularly focusing on the Wolverine deposit, which is set to supply dysprosium and terbium to Iluka Resources’ upcoming rare earths refinery in Western Australia. This move positions Northern Minerals as a significant player in the rare earths market, offering a reliable supply alternative to Chinese sources.
The most recent analyst rating on (AU:NTU) stock is a Buy with a A$0.07 price target. To see the full list of analyst forecasts on Northern Minerals Limited stock, see the AU:NTU Stock Forecast page.
More about Northern Minerals Limited
Northern Minerals Limited, listed on the ASX as NTU, is a company focused on the extraction and production of heavy rare earth elements, primarily dysprosium and terbium, from its Browns Range Heavy Rare Earths Project in Western Australia. These elements are crucial for manufacturing high-performance magnets used in clean energy, military, and high technology applications. The company aims to provide an alternative source of these elements outside of China, with its flagship deposit being the Wolverine deposit, considered the highest-grade source of dysprosium and terbium in Australia.
YTD Price Performance: 104.76%
Average Trading Volume: 30,653,365
Technical Sentiment Signal: Buy
Current Market Cap: A$359.4M
Find detailed analytics on NTU stock on TipRanks’ Stock Analysis page.