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April 30, 2024
During the March quarter 2024, Far Northern Resources Ltd (ASX: FNR) successfully raised $4.165 million and was accepted to admission to the official list of the Australian Stock Exchange (ASX). Shares in FNR started trading on 12 April 2024. The initial Public Offering (IPO) raised $4,165,000 through the issue of 20,825,000 shares at an issue price of $0.20. The total undiluted shares on issue at the date of listing was 70,961,135 with FNR having a Market Capitalisation of $14,192,227 and an Enterprise Value (EV) of $10,027,227.
- Far Northern Resources successfully raised $4.165M and satisfied the listing conditions to enable the quotation of its shares on ASX
- FNR acquired 100% of Premier Mining and Bridge Creek Mining post 31 March
- Director Conducted Site Visit to Bridge Creek in the NT
- Directors conducted Pre-Listing Road Shows Brisbane, Sydney, and Perth
- Rock Chip sampling over copper anomalies at Empire - see announcement 15 April 2024.
FNR has accumulated an exciting package of tenements in the Northern Territory and Queensland that are highly prospective for Gold and Copper. Exploration will commence shortly in the Northern Territory while a rock chip program has been conducted in North Queensland at the Empire project over the southern end of the Empire Mining Lease (see FNR’s announcement dated 15 April 2024).
This article includes content from Far Northern Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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