Riedel Resources Limited ( (AU:RIE) ) has issued an update.
Riedel Resources Limited has secured firm commitments to raise $165,000 through the issuance of 4,125 Convertible Notes to professional and sophisticated investors, aimed at bolstering working capital and conducting due diligence on potential projects. The capital raising is managed by Oracle Capital Group Pty Ltd, and the company plans to issue unquoted options to Oracle Capital, subject to shareholder approval. Additionally, US-based director Jason Pater has resigned from his position due to increased commitments in the US, marking a significant board change.
More about Riedel Resources Limited
Riedel Resources Limited operates in the mining industry, focusing on exploration and development of mineral resources. The company is engaged in identifying and developing potential project opportunities, with a market focus on professional and sophisticated investors.
YTD Price Performance: 6.45%
Average Trading Volume: 33,146
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$1.83M
For a thorough assessment of RIE stock, go to TipRanks’ Stock Analysis page.