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An update from Nickelx Ltd ( (AU:SMX) ) is now available.
Strata Minerals Limited has announced a successful capital raising of $1.6 million through an equity placement to fund exploration activities at its Penny South and Biranup Gold Projects. The funds will be used primarily for a maiden drill program at Penny South, which is set to commence imminently. This strategic move positions the company to explore potential high-grade mineral deposits in proximity to established gold mines, potentially enhancing the company’s market position and value. A drill-for-equity agreement with Topdrill Pty Ltd further supports these exploration efforts, highlighting Strata’s commitment to advancing its projects and increasing shareholder value.
More about Nickelx Ltd
Strata Minerals Limited is a company operating in the mineral exploration industry, focusing on gold projects. Their primary projects include the Penny South Gold Project and the Biranup Gold Project, both located in Western Australia.
YTD Price Performance: 60.0%
Average Trading Volume: 539,832
Technical Sentiment Consensus Rating: Hold
See more insights into SMX stock on TipRanks’ Stock Analysis page.
