Xstate Resources Completes Re-Compliance Offer
Key points
- Raised ~$2.14 million before costs through Re-compliance Prospectus offer
- Intends to satisfy remaining ASX conditions for re-instatement to trading
- Acquisition of 51% interest in Diona Project completed
Full summary
Xstate Resources Limited (ASX:XST) has announced that it has successfully completed its Re-compliance Prospectus offer, raising approximately $2.14 million before costs. The company now intends to satisfy the remaining ASX imposed conditions to its re-instatement to trading on the ASX. An updated indicative timetable has been provided, with the completion of the acquisition of a 51% interest in the Diona Project scheduled for Thursday, 4 September 2025, the satisfaction of ASX conditions to re-listing on Tuesday, 9 September 2025, and the potential re-instatement to trading (at ASX's discretion) on Thursday, 11 September 2025. The company confirms that all approvals are in place to allow it to commence drilling on the Diona Project, and it intends to finalize the drilling contract and mobilize the rig in the coming weeks, with an expected start date in the week commencing 22 September 2025.
Summary generated by a large language model. Please interpret with care.