FinTechFunding

Rafaella Resources: Completes $1.2M placement

  • 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
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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