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Peel Mining Limited ( (AU:PEX) ) has provided an update.
Peel Mining Limited has announced a Share Purchase Plan (SPP) following a successful placement of shares to sophisticated and institutional investors, raising approximately $16.25 million. The SPP allows eligible shareholders to purchase up to $30,000 worth of shares at a discounted price, aiming to raise an additional $2.5 million. The funds will be used for exploration activities, technical reviews, business development, corporate purposes, and general working capital. This initiative is part of Peel Mining’s strategy to strengthen its financial position and support its ongoing projects.
The most recent analyst rating on (AU:PEX) stock is a Buy with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.
More about Peel Mining Limited
Peel Mining Limited operates in the mining industry, focusing primarily on exploration and development of mineral resources. The company is involved in activities related to the Cobar Asset and aims to optimize its technical and business development operations.
Average Trading Volume: 1,243,443
Technical Sentiment Signal: Buy
Current Market Cap: A$77.33M
For detailed information about PEX stock, go to TipRanks’ Stock Analysis page.