19th Oct 2021 21:59
Aura Energy Ltd - Australian exploration company focussed on Sweden and Mauritania - Says it is to offer Australia and New Zealand shareholders 1 option for every 3 shares held. Aura is issuing options at AUD0.015, exercisable at AUD0.052, to raise AUD2.0 million. It adds that entitlement offer underwritten by KTM Capital and follows the rights issue in April.
Aura Energy Chief Executive Officer Peter Reeve says: "The funds raised through the Entitlement Offer will also assist in financing Stage 2 exploration which is continuing at Tiris. Water drilling is ongoing with excellent flow rates being achieved, and we are also awaiting the outcomes from the opportunity review and vanadium assaying, which has the potential to further lower the cash cost of the project. We also look forward to announcing the results from the net zero emission study in due course."
Current stock price: 16.70 pence
Year-to-date change: almost five times higher
By Arvind Bhunjun; [email protected]
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