Almonty Industries ( ($TSE:AII) ) has provided an update.
Almonty Industries Inc. has successfully secured additional commitments for its equity placement, raising approximately A$15.45 million through the issuance of Canadian units and Chess Depository Interests Units. The proceeds from this placement will be used to restructure the company’s balance sheet and cover offer costs, with the settlement expected around January 20, 2025, subject to regulatory approvals. This financial maneuver is aimed at strengthening Almonty’s financial position, potentially enhancing its operational stability and strategic market positioning.
More about Almonty Industries
Almonty Industries Inc., based in Toronto, Canada, is primarily engaged in the mining, processing, and shipping of tungsten concentrate. The company operates the Los Santos Mine in Spain and the Panasqueira Mine in Portugal and is developing the Sangdong tungsten mine in South Korea and the Valtreixal tin-tungsten project in Spain.
YTD Price Performance: -0.99%
Average Trading Volume: 172,870
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$256M
See more data about AII stock on TipRanks’ Stock Analysis page.
