Asara Resources Secures AU$25 million to Fast-Track Kada Gold Project Expansion

Asara Resources Limited (ASX: AS1) has raised AU$25 million via a two-tranche institutional placement at AU$0.05 per share to accelerate exploration at its Kada Gold Project in eastern Guinea. The raise was strongly supported by both existing and new investors across Australia and internationally. Proceeds will fund an expanded drill program, including infill and extension drilling at the Massan deposit, new drilling on Talico and Banan licenses, and further geophysical work.

The initiative aims to build upon the current Mineral Resource Estimate of 30.3Mt at 1.0g/t for 923Koz, mainly shallow oxide-transitional gold. CEO Matthew Sharples emphasized the raise positions Asara for 12–18 months of sustained exploration. The company also holds the Paguanta Copper-Silver-Zinc Project in Chile and a JV with Teck Resources at the adjacent Loreto Project, although focus remains on growing Kada’s resource base.

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