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South Harz Potash Limited (ASX:SHP)

ALERT: Price-sensitive ASX Announcement for SHP
Current share price for SHP : $0.022 -0.006 (-21.43%)+
Announcement
Release
9 Mar 2026 9:37AM
Price at Release
$0.028
Full Release
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Summary
South Harz Potash Limited (ASX: SHP) announced it has successfully raised A$1.25 million through the issuance of 41,666,667 shares at A$0.03 each to fund exploration activities at its copper-gold projects in Sweden. The placement, supported by both new and existing investors, is part of the company's strategy to diversify into critical minerals, reflecting a broader commitment to the global energy transition. The funds will be used to advance exploration at the Glava-Klinten and Torsby West, with first drilling planned for mid-2026. Alongside this, the company plans to change its name to Turnstone Resources Ltd to better align with its new strategic focus.
Key Points
  • A$1.25 million raised through share placement.
  • Funds to advance copper-gold exploration in Sweden.
  • First drilling at Glava-Klinten and Torsby West targeted for mid-2026.
  • Company plans to change its name to Turnstone Resources Ltd.
  • Strong support from both new and existing investors.
  • Strategic focus on critical minerals amidst global energy transition.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.