Alara Resources to Raise $15.3M in Rights Issue

Alara Resources Limited (AU:AUQ) has released an update.

Alara Resources Limited is set to raise approximately $15.3 million through a renounceable rights issue, offering shares at a discounted price of $0.034 and including free options for subscribers. The funds will be used to enhance production capacity, explore new assets in Oman, and strengthen the company’s balance sheet. Al Tasnim Infrastructure LLC, a major shareholder, supports the initiative by fully sub-underwriting the issue.

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