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The latest update is out from Icon Energy Limited ( (AU:ICN) ).
Icon Energy Limited announced financial maneuvers during the last quarter of 2024, including the conversion of a $300,000 debt into 50 million shares and a further $600,000 share subscription agreement to support its operations. The company issued a total of 100 million shares to fund its activities, although its shares remain suspended on the ASX due to ongoing uncertainties about the renewal of its ATP 855 permit. Despite this, Icon Energy is optimistic about overcoming these challenges and lifting the suspension.
More about Icon Energy Limited
Icon Energy Limited operates in the energy sector, focusing on both conventional and unconventional gas exploration and production. The company holds significant interests in the Cooper-Eromanga Basin, specifically in the Nappamerri Trough, where it operates the ATP 855 permit area.
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $2.87M
Find detailed analytics on ICN stock on TipRanks’ Stock Analysis page.
