Asra Minerals Raises $2.5M to Accelerate Exploration

THE BOURSE WHISPERER: Asra Minerals (ASX: ASR) has secured $2.5 million in funding by way of a share placement to accelerate exploration activities across its portfolio of prospective Western Australia projects.

Asra Minerals the funding will be used to fast-track activities across its projects, including exploration, geochemistry, and further expansion of its highly prospective Lake Johnston and Lake Cowan lithium projects in the southern Yilgarn region.

Asra is currently evaluating potential additions to its Lake Johnston lithium portfolio and has teams in the field now looking at both existing and new opportunities.

The new cash will also be splashed on metallurgical testwork and orebody modelling at the company’s Yttria rare earth project as well as evaluation of scandium potential at Yttria.

Asra will also progress exploration work at its gold projects at the Mt Stirling project, as well as sites in Leonora and Kookynie.

“Asra is strategically establishing a significant exploration portfolio in Western Australia, while building a highly competent field and technical team to deliver value on these assets to shareholders,” Asra Minerals executive chairman Paul Summers said in the company’s ASX announcement.

“This has generated significant demand for this Placement from existing and new supportive shareholders, and I thank them for their ongoing support.

“I also welcome the new institutional and sophisticated investors to the company’s register.

“This Placement provides a strong balance sheet that allows the company to accelerate exploration activities and technical studies across our lithium, rare earth and gold projects in the highly prospective and richly endowed Goldfield’s region of Western Australia.”