Avenira updates market as NT project moves ahead
An NT phosphate player has updated the market in its search for cash. Read how it went.
Click to unmuteBrush Fire Breaks Out Near Phosphate Plant in RiverviewFirefighters battled a large brush fire next to a...Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
One of five companies shortlisted to develop projects at Darwin’s Middle Arm precinct has pointed to underlying cashflow challenges in a recent note to the ASX.
Avenira Limited’s Wonarah phosphate project, about 300km east of Tennant Creek, is expected to create up to 50 jobs exporting direct shipping ore.
The ASX brief revealed the company had $1.108m cash on hand at the start of April.
Former chief minister Natasha Fyles and Avenira executive chairman Brett Clark were all smiles at a 2023 signing ceremony.“Avenira does not expect to have the level of operating cash outflows in the remaining 2024 quarters as it has revised its expenditure programs to significantly reduce its operating cash outflows with expenditure focused on the advancement of the yellow phosphorous metal project,” it said.
“Avenira expects that additional capital will be required to fund its operations after the September 2024 quarter.
More Coverage
“The company will in due course assess the most suitable method for raising that additional capital including liaising with key investors and is confident that it will be able to raise further capital upon the release of the study.”
A capital raising announced on March 18 raised gross proceeds of $1.251m and net proceeds to $1.193m.
The statement said Avenira would monitor the price of phosphate rock “and continue to work with offtakers when the market for phosphate rock starts to recover”.
BusinessNT BusinessAvenira updates market as NT project moves...
Add AEV (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.74M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.5¢ | $10.86K | 2.172M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4334061 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 4812447 | 7 |
View Market Depth
| Last trade - 13.30pm 17/06/2024 (20 minute delay) ? |
|
|||||
|
Last
0.5¢ |
Change
0.000 ( 0.00 %) |
||||
| Open | High | Low | Volume | ||
| 0.5¢ | 0.5¢ | 0.5¢ | 400000 | ||
| Last updated 13.30pm 17/06/2024 ? | |||||
| AEV (ASX) Chart |
