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Asara Resources Limited (ASX:AS1)

ALERT: Price-sensitive ASX Announcement for AS1
Current share price for AS1 : $0.110 -0.02 (-15.38%)+
Announcement
Release
29 Jun 2026 9:45AM
Price at Release
$0.130
Full Release
download
Summary
Asara Resources Limited announced a $60 million institutional placement at $0.125 per share, which was approved by shareholders on June 19, 2026. The company agreed to a subscription amendment with Barbet LLC, reducing their subscribed shares from 35,675,068 to 4,928,613, and allocated the remaining shares to other institutional investors. The proceeds from this placement will be used to accelerate the Kada Gold Project in Guinea, including activities such as resource extension and infill drilling, reconnaissance exploration, and construction of mine infrastructure. The company aims to increase the current 923,000-ounce mineral resource estimate and explore additional oxide gold mineralization. Canaccord Genuity and Argonaut Securities were the joint lead managers for the placement. All transactions are stated in Australian dollars.
Key Points
  • Asara Resources conducted a $60 million institutional placement at $0.125 per share.
  • Barbet LLC adjusted its subscription to 4,928,613 shares.
  • Remaining shares placed with other institutional investors.
  • Proceeds to fund Kada Gold Project in Guinea.
  • Activities include resource drilling, exploration, and infrastructure construction.
  • Aim to increase the 923,000-ounce mineral resource estimate.
  • Placement managed by Canaccord Genuity and Argonaut Securities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.