Newera raises $1m

Minerals explorer Newera Resources has announced an entitlements issue to raise just over a $1 million.

The Perth-based company plans to issue half a billion new shares on a four for five basis to eligible existing shareholders at a price of 0.2 cents per share.

In June, Newera announced it had completed a survey at its Ulaan Tolgoi project in the South Gobi basin of southern Mongolia and found prospective coal deposits.

Newera remained unchanged at 0.2 cents at the time of writing.