Aura Energy raises £600,000 on Australian Stock Exchange

Uranium miner Aura Energy raised £607,050 (AU$1.065m) on the Australian Stock Exchange, adding to funds recently raised on AIM, in order to progress with two projects and provide working capital.

From the Australian placement, the company will issue about 53.45m fully paid ordinary shares, including 200,000 shares in equity raising costs, at 1.14p (AU$0.02) per share.

The company listed on AIM on Monday and raised £2.24m (AU$3.94m) before expenses, when it placed over 196.8m new ordinary shares at £0.0114p (AU$0.02) per share for a market capitalisation of £7.45m (AU$13.1m) on admission.

In total, the company has raised about £2.8m (AU$5m) from the AIM listing and the Australian placement and issued over 254.2m fully paid ordinary shares.

Executive chairman Peter Reeve, said “The completion of the AIM admission earlier this week and supplementing the funds raised on the AIM with the Australian placement has provided the company with the necessary funds to re-commence the feasibility study at the Tiris project in Mauritania, progress the Haggan project in Sweden as well as provide working capital.”

The company has made and application to admit the Australian placement shares to AIM, which is expected on 23 September.

Following admission, the company will have a share capital of 711.3m shares with no shares held in treasury.

Shares in Aura Energy were down 3.75% on AIM to 1.73p at 0855 BST.