Zambezi Resources

A$8m Share Placement

August 2010

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.