By: Creamer media

The funds will be used primarily to further the company’s exploration programme on its copper-focused prospecting licences in north-west Botswana, as well as for working capital purposes.

The exploration programme is designed to take the high-priority anomalies to drill targets.

Meanwhile, Rory Harding has been appointed to the board as a nonexecutive director with immediate effect.

He is also currently the CEO of Aim-listed Arkle Resources.

Harding is an emerging markets specialist with experience in energy, mining and investment banking and adviser to London merchant bank Strand Hanson.

He is the co-founder and asset originator for multiple publicly listed mining companies, most recently TSX-V-listed Electrum Discovery.

Harding formerly worked in energy trading and has extensive operational experience in Africa.

Harding is subscribing for 40-million shares in the placing. Following completion of the placing, his holding in the company will represent 2.41% of the enlarged issued share capital.