A-Cap seeks P100m for Letlhlakane uranium study

Monday, November 29, 2010

Botswana Stock Exchange (BSE-listed uranium explorer A-Cap Resources plans to raise up to P100 million (A$15,6-million) to fund the completion of a bankable feasibility study at the Lethlakane uranium project.

The uranium developer said in a statement that it has completed a private institutional placement of 22,86-million shares, at 42c a share, to raise around A$9,6-million.

The placement was made to Asian and United Kingdom (UK)-based institutions. A-Cap's largest shareholder, China Growth Minerals, would increase its shareholding to 16,6 percent through the placement.

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