A$8m Share Placement
On 12 August 2010, Zambezi Resources Limited announced a capital raising of 444.4 million new fully paid ordinary shares in the Company at an application price of A$0.018 to raise A$8 million. Azure acted as lead manager in relation to the share placement.
The net proceeds from the share placement were to be applied to:
- finalising the due diligence study over the Chingola Dumps Project in Zambia, and upon the project achieving appropriate investment criteria, the Company formally deciding to proceed with the project.
- settling the agreement with Rephidim Mining and Technical Supplies Limited and conducting a feasibility study on the Chingola Dumps Project should the Company proceed with the project
- general working capital requirements.
- continue exploration of the copper and uranium licences.
- repaying the loan facility with LinQ Capital.
Zambezi is a copper, gold and uranium exploration and development Company listed on the London Stock Exchange’s AIM and the ASX.