27/01/2022 - 15:30

Gold, uranium explorer rises on relisting

27/01/2022 - 15:30

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West Perth-based Haranga Resources has relisted on the stock exchange after nearly two years off the boards, with its shares closing up 30 per cent.

Gold, uranium explorer rises on relisting
Peter Youd is confident of a renewed interest in uranium. Photo: Haranga Resources

West Perth-based Haranga Resources has relisted on the stock exchange after nearly two years off the boards, with its shares closing up 30 per cent.

The company earlier raised $6.5 million through an oversubscribed public offering managed by CPS Capital Group and priced at 20 cents a share.

Haranga recommenced trading this afternoon, peaking at 28 cents before closing at 26 cents.

It comes almost two years after the West African-focused explorer was delisted from the ASX, following the introduction of new national policies which targeted companies that had been suspended for too long or had fallen behind on key reporting dates.

Haranga plans to use some of the funds raised to advance its projects, which include its Issia gold tenements in Cote d’Ivoire and Saraya uranium project in Senegal.

The company says it intends to declare a mineral resource for both projects in the near future.

“This is an exciting opportunity to develop the Saraya and Issia projects, which show good prospects for early exploration success thanks to their locations, results from recent studies and historical data,” executive chairman and chief financial officer Peter Youd said.

He noted a renewed interest in uranium with reference to high prices and acknowledgement of the role nuclear power plays in global decarbonisation efforts.

“Analysts are pointing to the demand for uranium only increasing and the price of gold staying strong into the future, especially with the talk of increasing inflation,” Mr Youd added.

The Haranga board also includes non-executive directors John Davis and Hendrik Schloemann.

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