Sabre to raise $700,000 via additional placement

Sabre Resources (ASX:SBR) is set to raise an additional $700,000 via a placement to a ‘large’ investor client of Peak Asset Management, a ‘substantial’ early stage investor in Latin Resources (ASX:LRS). 

The placement is in addition to a $2.6 million placement announced on 30 October 2023. 

The current placement comprises just over 17 million fully paid ordinary shares of Sabre at $0.041 per share with about 20.573 million free attaching SBROB listed options. 

Sabre, which has a market capitalisation of $14.64 million, says these funds will be used to fast-track lithium exploration at its lithium targets near Azure Minerals’ (ASX:AZS) Andover discovery in an emerging ‘world-class’ lithium province. 

Sabre Resources is an explorer and mining developer focused on precious, battery, and critical minerals.

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Images: Sabre Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.