Asara Resources Secures $2.3M for Kada Gold Project Expansion and Appoints New CEO

Asara Resources has raised $2.3m through a placement with Barbet LLC to accelerate exploration at its Kada Gold Project in Guinea. The funds will be used for an upcoming drill program and general working capital. Asara has also appointed Matthew Sharples as Chief Executive Officer, replacing Timothy Strong. The company plans to fast-track its exploration efforts at Kada.

Asara Resources Limited (ASX: AS1, FSE: ALM) has secured $2.3 million through a placement with Barbet LLC to fast-track exploration efforts at its Kada Gold Project in Guinea. The funds will primarily support an upcoming drill program and general working capital needs. The company has also appointed Matthew Sharples as its new Chief Executive Officer, replacing Timothy Strong.

The Kada Gold Project, located in Guinea's Siguiri Basin, hosts a significant gold resource. Asara's strategy involves rapidly growing its resource base through 33,600 meters of drilling planned for 2025, including 24,000 meters of reverse circulation (RC) drilling and 9,600 meters of diamond drilling [1].

The company's experienced leadership team, led by Sharples, aims to leverage proven exploration and development strategies to advance the Kada project towards a construction-ready decision. Sharples brings extensive experience in capital markets and stakeholder engagement, having been instrumental in growing Robex's Kiniero project into a multi-million-ounce asset [2].

Asara's near-term strategy includes expanding its land package through contiguous license applications and maintaining a focus on low-CAPEX, oxide-first development. The company's flagship Kada gold project has a JORC 2012-compliant mineral resource estimate of 30.3 million tons grading at 0.95 grams per ton gold, containing 923,000 ounces of gold [1].

The appointment of Matthew Sharples as CEO follows the resignation of Timothy Strong, who will remain on the board as Executive Director – Corporate Strategy & Affairs. Strong commented, "We are pleased that Barbet have continued to show their commitment to the Company and its flagship Kada project by participating in a further Placement. This Placement will allow the Company to fastrack its exploration efforts" [3].

Asara's strategic location within the prolific Siguiri Basin, close to existing infrastructure, and favorable jurisdiction for mining investment position it as a promising player in West Africa's gold sector. The company's plans to fast-track exploration and development at Kada could significantly enhance its market position and potential for future growth.

References:
[1] https://investingnews.com/asara-raises-25m-to-accelerate-exploration-at-kada/
[2] Asara Resources Limited. (2025). "Asara Raises $2.3M in Placement to Underpin Exploration Program at Kada and Makes Executive Changes." Press Release.
[3] Asara Resources Limited. (2025). "Asara Raises $2.3M in Placement to Underpin Exploration Program at Kada and Makes Executive Changes." Press Release.