Clara Resources Australia Ltd (ASX:C7A) Announces A$600,000 Capital Raise
Capital Raising Details
Clara Resources Australia Ltd (ASX:C7A) has secured commitments to raise approximately A$600,000 through a two-tranche placement of new fully paid ordinary shares at A$0.003 each. Tranche 1 will raise A$230,000 by issuing 76,666,667 new shares under the LR7.1 placement capacity. Tranche 2 aims to raise A$370,000 by issuing 123,333,333 new shares, pending shareholder approval in a late July 2025 general meeting.
Use of Funds
The raised funds will support ongoing activities at the Ashford Coking Coal Project in NSW and cover general corporate and administrative expenses, ensuring financial flexibility and the progression of strategic objectives.
Strategic Outlook
Post-placement, Clara will focus on the Ashford Project and pursue disciplined capital management by reducing non-essential expenditures. The company is also evaluating complementary projects to enhance its asset portfolio and shareholder value.
Executive Comments
Managing Director Mr Peter Westerhuis stated, “The current market environment for junior coal companies remains challenging; however, we are pleased with the support shown by investors for this capital raise. The funds secured will strengthen Clara’s balance sheet and ensure we can maintain momentum at the Ashford Coking Coal Project while continuing to pursue our strategic objectives. In addition, we have moved to preserve cash by cutting down on non-essential expenditure. We are also evaluating opportunities that have the potential to enhance Clara’s asset base. This approach positions us well to create additional shareholder value as we navigate the present market conditions.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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