Barra raises cash for Mt Thirsty

Junior metals explorer Barra Resources will raise A$1-million through a share purchase plan (SPP) to advance its Mount Thirsty cobalt project, in Western Australia, to beyond the recently completed scoping study. The SPP will allow shareholders to subscribe for up to A$15 000 worth of new shares, priced at 4.5c each, representing a 23% discount to the company’s five day volume weighted average price.