what do people think of this13 Oct 2017 10:16
Found this article, same directors obviously plugged into pretty exciting resource opportunities
Kalahari Metals, a recently formed Botswana-focused mining company, is looking to raise up to GBP 3m to develop its Botswana copper assets, founder and director Luke Bryan said.
The capital will be used to appraise and develop its prospective licences, and participate in earn-in agreements, in the Botswana Copper Belt, he said.
The deal could take the form of a private investment or a London AIM listing. The copper price is doing well and Botswana is a stable jurisdiction in which to operate, he said.
The level of equity the capital raise would represent will depend on the deal structure, he said, but GBP 3m would acquire a significant stake in the company for a single investor.
The region has to be one of the best places to look for copper at the moment, and most London investors are unaware of it, Bryan said.
The company has an experienced management team, and while not wanting to solicit phone calls from advisors at this stage, it will talk to people as appropriate, he said.
Kalahari Metals was incorporated in the UK in May by a group of industry executives with the intention to look for copper exploration plays in Botswana, he said. Since then the company has managed to secure licences and earn-in agreements on two assets in Botswana�s copper belt, he said.
Companies active in the belt include Cupric Canyon, AUD 113m market capitalisation MOD Resources [ASX:MOD], and GBP 17m Metal Tiger [LOT:MTR], the latter two of which last week published a revised mineral resource estimate on their Kalahari Copper Belt joint venture which noted a 27% increase in total resource tonnes.
Kalahari Metals has performed a mineral endowment project on the copper belt and found that there are a number of mid-tier deposits yet to be discovered, Bryan said. It is a fairly immature exploration district with a lot of upside, he noted.
Its two prospecting licences, awarded by the Botswana ministry of mines, cover about 2,000sqkm, and its earn-in agreement covers another 2,000sqkm, he said.
Following the funding raise, the company will complete geophysical studies and then commence drilling as soon as possible, he said.
Geophysics has proven to be highly effective in targeting mineralisation under cover, he said, and the company will use a combination of airborne magnetic and electromagnetic survey data to locate drill targets.
by Patrick Harris
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