Asara Raises AU$2.3 million for Kada Exploration and Announces Executive Changes.

Asara Resources Limited (ASX: AS1) has secured AU$2.3 million through a Placement with Barbet L.L.C FZ, reinforcing Barbet’s commitment to the Kada Gold Project in Guinea. The funds will accelerate drilling and exploration activities at Kada, with Barbet now holding a 19.89% stake in Asara. The Placement consists of 104,517,541 fully paid ordinary shares issued at AU$0.022 per share, with settlement scheduled for 20 February 2025. 

Alongside the funding, Asara announced leadership changes. Timothy Strong has stepped down as Managing Director and will now serve as Executive Director – Corporate Strategy & Affairs. Matthew Sharples, a seasoned mining professional with extensive experience in gold project development, has been appointed as Chief Executive Officer. Sharples previously co-founded Sycamore Mining, leading the Kiniero Mine's expansion in Guinea. His expertise in project development and investment is expected to drive Asara’s growth as it advances the Kada Project toward feasibility.

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