Hillgrove Resources Limited ( (AU:HGO) ) has issued an update.
Hillgrove Resources Limited has announced an equity raising initiative to generate up to $16 million through a combination of a $13 million placement to institutional and sophisticated investors and a $3 million Share Purchase Plan (SPP) for existing eligible shareholders. The SPP is underwritten by Blue Ocean Equities Pty Ltd up to $2.2 million, ensuring the full amount is raised. This financial move is expected to bolster Hillgrove’s operational capabilities and strengthen its market position, with shareholder approval required for certain aspects at the upcoming Annual General Meeting.
More about Hillgrove Resources Limited
Hillgrove Resources Limited is a company operating in the mining industry, primarily focused on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange (ASX) under the ticker HGO.
YTD Price Performance: -28.00%
Average Trading Volume: 3,766,971
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$86.14M
Learn more about HGO stock on TipRanks’ Stock Analysis page.
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