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An update from Alara Resources ( (AU:AUQ) ) is now available.
Alara Resources Limited has entered into subscription agreements for a private placement to raise A$3.4 million through the issuance of 85,000,000 shares at A$0.04 each to Al Tasnim Infrastructure LLC and Director Vikas Jain. This move is aimed at repaying a portion of the company’s debt under its finance facility with Trafigura Pte Ltd and covering interest payments and taxes. The placement is subject to shareholder approval, and if approved, will increase the voting power of ATI and Vikas Jain in the company. The funds will also support the company’s financial commitments and projects in Oman.
More about Alara Resources
Alara Resources Limited is a base and precious metals producer and explorer with projects in Oman. The company focuses on the exploration and production of metals, contributing to the mining industry.
Average Trading Volume: 676,367
Technical Sentiment Signal: Sell
Current Market Cap: A$22.26M
Learn more about AUQ stock on TipRanks’ Stock Analysis page.