LONDON (Alliance News) - Aura Energy Ltd on Tuesday said it has recommenced trading on Australian Securities Exchange following the completion of a placement of 61.1 million shares.
The AIM-listed minerals company placed the shares at a price of 1.6 cents each, raising USD977,000. The placing price represents an 11% discount to the closing market price on Thursday last week.
Aura Energy shares were trading 3.1% lower on Tuesday in London at 1.02 pence each, giving it a market capitalisation of GBP11.5 million.
The company intends to use the proceeds for continuing the Tiris definitive feasibility study in Mauritania and the Haggan scoping study in Sweden, as well as for general working capital purposes.
"Aura has continued at every stage to purposely and methodically advance the individual elements of its definitive feasibility study at the Tiris uranium project and the Haggan vanadium project studies," said Executive Chair Peter Reeve.
"This placement will continue to advance these activities as the company moves towards production," added Reeve.
Aura Egy (AURA)