Star Minerals Ltd. (AU:SMS) has released an update.
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Star Minerals Limited is launching a renounceable entitlement offer to raise approximately $2.525 million by issuing two new shares for every three existing shares at $0.04 each. Eligible shareholders can also apply for additional shares through a Shortfall Facility managed by Mahe Capital Pty Ltd. This strategic move aims to maintain shareholder control while potentially increasing investment opportunities.
For further insights into AU:SMS stock, check out TipRanks’ Stock Analysis page.