Clara Resources Launches Rights Issue to Fund Project

Aus Tin Mining Limited (AU:C7A) has released an update.

Aus Tin Mining Limited, operating under the name Clara Resources Australia Limited, has announced a non-renounceable rights issue aiming to raise A$1.667 million by offering 2 new shares for every 3 held at A$0.01 each. The capital raised will be allocated to further developing the Ashford Coking Coal project, repaying debt, and covering general working capital needs. The offer is open to shareholders in selected countries, with the rights issue not being underwritten.

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