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RBR Group Ltd ( (AU:RBR) ) has issued an announcement.
RBR Group Limited has initiated a capital raising program to address its financial constraints, targeting a total of $1.3 million. This program aims to reduce short-term debt and support working capital needs. Despite disruptions from Mozambique’s national elections and a cyclonic event, RBR continues its focus on securing contracts related to LNG projects, particularly in Northern Mozambique. New investors, including major shareholder Paul Natoli, CEO of Grounded, are expected to foster further growth opportunities in Australia and Africa. The completion of the equity raising program and partnerships with regional service providers like Ascending and Dynamic African Projects position RBR for expansion in its labour, training, and accommodation divisions.
More about RBR Group Ltd
RBR Group Limited is a specialist in camp supply, labour services, and training. The company focuses on providing skilled labour and associated services to various industries, with a particular emphasis on supporting LNG projects in Mozambique and broader African regions.
Current Market Cap: A$2.58M
Learn more about RBR stock on TipRanks’ Stock Analysis page.
