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Aura Energy Ltd on Wednesday said it has raised A$10 million, about £5.3 million, through a placing of 54.1 million new shares at an offer price of A$0.185 per share. The offer price represents an 18% discount to the closing price of A$0.23 on Tuesday. In London on Wednesday, shares in Aura Energy were down 5.4% to 9.70 pence each. In Australia, the stock closed down 17% at A$0.19. Aura is a London-based minerals company that holds projects in Mauritania and Sweden. It also said it plans to offer eligible existing shareholders the opportunity to participate in a share purchase plan to raise a further A$1 million. Proceeds from the placing will be used to advance development across Aura’s project portfolio. This includes progressing the Tiris project in Mauritania; target growth in resources in the Tiris Zemmour province of Mauritania; and support the Swedish government’s strategy to create energy independence. ‘This capital raising provides the required funding for Aura to continue our development planning works on the Tiris project ensuring that it is ready for development when the uranium market signals and to enable ongoing efforts to identify additional, higher grade, low-cost resources in the Tiris Zemmour region of Mauritania,’ said Chair Philip Mitchell. ‘Naturally, in Sweden, we will continue to support the government strategy as it systematically reviews the national energy policy and evaluates the requirements to retract the ban on uranium mining.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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