BRE raises $78m for rare earth projects in Brazil

Brazilian Rare Earths has secured firm commitments for a placement of 25.6 million new fully paid ordinary shares priced at A$4.68 ($3.05) per share. This placement aims to raise A$120m before expenses. The funds will fast-track the development of high-grade rare earth projects in Brazil and advance the integrated separation refinery at Camaçari, Bahia. The issue price reflects a discount of 6.4% compared to the most recent closing price of $5 and nil discount to the five-day volume weighted average pri ...