Alara Resources (ASX:AUQ) has raised $7.87 million in a capital raising to professional and institutional investors through a placement of 31.5 million shares at $0.25 per share.
The Placement was managed by Petra Capital Pty Ltd.
The funds raised under the Placement will be applied principally towards the costs of development of the company’s flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia and exploration and resource projects in Oman.
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