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Austral Resources Australia Ltd (ASX:AR1) Successfully Completes $17 million Placement
Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce that it has received firm commitments to raise A$17 million in an institutional placement of approximately 45.9 million shares ("New Shares") at an issue price of A$0.37 per share ("Placement").

Under the Placement, Dan Jauncey, Managing Director and CEO, will subscribe for A$1 million worth of New Shares, subject to shareholder approval at a general meeting of the Company.

Petra Capital acted as Sole Lead Manager and Bookrunner to the Placement.

The placement was strongly supported by institutional and sophisticated investors, providing significant endorsement of Austral's ongoing progress.

Austral's Managing Director and CEO, Dan Jauncey, commented:

"We are delighted with the support for the placement and welcome a number of new institutional investors to the register.

Austral would like to thank our existing shareholders for the continued support and we look forward to delivering on our strategy."

Placement Details

New Shares will be issued under the Placement at an issue price of A$0.37 per share, which represents:

- 17.8% discount to the last traded price of A$0.45 per share on 9 August 2022; and

- 16.2% discount to the 5-day volume weighted average price ("VWAP") of A$0.441 per share at close on 9 August 2022.

Under the Placement 43,243,244 New Shares will be issued under the Company's existing Listing Rule 7.1A capacity, raising approximately A$16 million. In addition, Dan Jauncey, Managing Director and CEO, will subscribe for 2,702,703 shares, A$1 million, subject to shareholder approval at a general meeting of the Company.

Jane Morgan 
Investor and Media Relations Manager 
T: +61-405-555-618 
E: jm@janemorganmanagement.com.au





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