Clara Resources' capital raising initiative

Clara Resources Australia (ASX:C7A) has unveiled a capital raising plan to secure up to $2.1 million. This initiative combines a $0.42 million placement with a 1 for 1 Accelerated Non-Renounceable Entitlement Offer (ANREO), aiming to fuel the development of the Ashford Coking Coal Project in New South Wales.

Clara Resources' strategic funding objectives

Clara Resources Australia (ASX:C7A) is launching a capital raising initiative to support its Ashford Coking Coal Project. The plan includes a $0.42 million placement and a 1 for 1 ANREO, with funds allocated for resource drilling, project development, and debt reduction. The capital raising will help complete a Preliminary Feasibility Study (PFS) and explore potential resource extensions. The retail component, open from 27 December 2024 to 17 January 2025, offers shareholders a chance to participate at a discounted share price. This strategic move underscores Clara's commitment to advancing its coal project and strengthening its financial position.

Executive insights on capital raising

The capital raise is crucial for advancing the Ashford project, especially after securing 100% of the Ashford asset and completing a Scoping Study that highlights exceptional project economics.