Austral Resources Australia Preparing Mining Study Ahead of Capital Raise

Austral Resources Australia Ltd (ASX:AR1) is preparing a mining study to outline a proposed mine plan incorporating changes detailed in a framework agreement to recapitalize the company, according to a Wednesday filing with the Australian bourse.

The mine plan should be completed before the recapitalization equity raise, the filing stated. The Queensland copper producer appointed stockbroker Bell Potter as an adviser for the capital raise.