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Peel Mining Limited ( (AU:PEX) ) has provided an update.
Peel Mining Limited has announced a capital raising of $18.75 million, which includes a $16.25 million placement and a $2.5 million share purchase plan. The placement was well-received by institutional investors and supports Peel’s strategy to unlock value from its assets in the Cobar Basin. Additionally, the company has appointed Tony Schultz as a Non-Executive Director, bringing extensive experience in resources and corporate finance. This strategic move aligns with Peel’s focus on expanding its resource base and exploring growth opportunities in the region.
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 is a company operating in the resources industry, primarily focusing on high-quality copper and polymetallic assets in the Cobar Basin. The company is engaged in exploration and development activities, leveraging its substantial mineral resource base and strategic location in one of Australia’s premier base metals regions.
YTD Price Performance: -20.0%
Average Trading Volume: 252,708
Technical Sentiment Signal: Hold
Current Market Cap: A$55.97M
For an in-depth examination of PEX stock, go to TipRanks’ Overview page.