AKORA Resources launched a $3.8 million equity raise through new share issuance, alongside an update on its ongoing strategic investor process.

The company, seeking financial partners for project developments, has received two non-binding indicative offers, with more anticipated.

The funds, priced at 15 cents per share, will bolster the pre-feasibility study for Bekisopa and exploratory drilling at Satrokala.

The infusion aims to propel key projects and sustain AKORA's pursuit of iron ore in Madagascar.