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Rafaella Resources: Completes $1.2M placement

December 24, 2020

Rafaella Resources (RFR) has successfully completed a placement and raised approximately $1.2 million
The company entered a trading halt on Monday but did not disclose how much it intended to raise or what the funds would used for once received
The funds raised via the issue of 17.6 million shares to sophisticated investors at 6.6 cents
Rafaella will use the funds for its Santa Comba Tungsten project in Spain and its recently acquired Canadian nickel-copper assets
In particular, the company will also aim to increase the resource base at Santa Comba and undertake a heli-electromagnetic survey at its Canadian projects
Rafaella up 3.03 per cent on the market and shares are trading at 6.8 cents