Aim-listed Ura Holdings has raised €280 000, through a placing and subscription of shares.
Moreover, the company has raised €50 000 by way of a convertible loan note with Austin Acquisitions.
The proceeds of the fundraise will be used to place orders for critical equipment for the restart of mining operations at the Gravelotte emerald mine, in South Africa’s Limpopo province, and for general working capital.
The main item to be ordered is the Tomra optical sorter that needs to be manufactured in Germany to the specification of test work already conducted on material from the mine.
The new equipment will take some time to manufacture and commission but will enable the company to bring the mine back into production quickly.