- 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
