AusQuest Limited (AU:AQD) has released an update.
AusQuest Limited is raising A$2.6 million through a rights offer to fund exploration drilling in Peru and seek new opportunities in Australia. Shareholders can buy 2 new shares for every 5 held at A$0.008 each, with a free option attached, and the campaign is backed by the company’s largest shareholder, Chrysalis Investments. The initiative aims to capitalize on the growing demand for copper and strengthen AusQuest’s financial position in partnership with South32.
For further insights into AU:AQD stock, check out TipRanks’ Stock Analysis page.