Aura Energy Limited has successfully completed a $16.2 million capital raise through a placement and a share purchase plan (SPP). The company issued 1,080,000,000 new fully paid ordinary shares at an issue price of $0.015 per share. The placement was oversubscribed, reflecting strong support from existing and new institutional and sophisticated investors. Additionally, eligible shareholders will have the opportunity to participate in the SPP, allowing them to subscribe for up to $30,000 worth of new shares at the same issue price.
The funds raised will be used to advance the company's Tiris Uranium Project in Mauritania, including progressing the definitive feasibility study, securing project financing, and initiating early works. Peter Reeve, the Executive Chairman of Aura Energy, expressed his satisfaction with the outcome, stating, "The success of the Placement and the strong support from existing and new shareholders is a strong endorsement of the Company's strategy and the potential of the Tiris Uranium Project."
The completion of the capital raise marks a significant milestone for Aura Energy Limited, providing the necessary financial resources to advance its key projects. This successful initiative underscores the confidence of investors in the company's strategic direction and the potential of its Tiris Uranium Project. With the additional funding secured, Aura Energy is well-positioned to progress its operations and continue its efforts towards becoming a leading player in the uranium sector.