As foreshadowed here recently, iron ore and gold developer African Aura is raising some £11 million at 65p.
As foreshadowed here recently, iron ore and gold developer African Aura is raising some £11 million at 65p.
The AIM-quoted company, formerly Mano River, is understood to have placed shares at 65p to advance developments at the Putu iron ore project in Liberia, where it hopes to increase the inferred resource there from one billion tonnes with 37 per cent iron ore to four or five billion tonnes. African Aura has 38.5 per cent of the Putu project, where its partner and 5 per cent shareholder, Russian steelmaker Severstal, is spending £20 million on a resource and metallurgical update.
Shares in the company, which has another iron ore project at Nkout in Cameroon and a gold project, New Liberty, in Liberia, are up 7p to 74p this morning and should make further progress this year.
