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LONDON - Harena Resources Plc (LSE:HREE) has secured a £450,000 investment from RAB Capital and associates through a conditional subscription for 30 million new ordinary shares at £0.015 per share, according to a press release statement issued Wednesday.
The investment will increase RAB Capital’s stake in the rare earths company from 4.17% to approximately 9.02% of Harena’s enlarged issued share capital once completed.
Harena, which focuses on the Ampasindava ionic clay rare earth project in Madagascar, plans to use the proceeds for working capital to advance the project.
The share issuance remains conditional upon renewal of the directors’ authority to issue ordinary shares at Harena’s Annual General Meeting in November 2025 and compliance with Prospectus Rules. The company expects the shares to be admitted to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange following new Prospectus rules coming into effect around January 19, 2026.
RAB Capital, described as a long-standing institutional investor with over 30 years of experience in the London-listed mining sector, has previously invested in rare earth companies.
Ivan Murphy, Executive Chairman of Harena, called the investment a "strong endorsement" of the company’s strategy, while Philip Richards, CEO of RAB Capital, noted that Harena’s project contains heavy rare earths that are key components in neodymium magnets used in robotics.
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