Coal miner buys stake in A-Cap

In a statement, the mining and investment company which also has interests in uranium, said the purchase was part of a placement by A-Cap of 50 million new shares at 20 Australian cents apiece to raise A$10 million.

Under the terms of the placement, Polo Resources will be invited to nominate one member to A-Cap's board. "A-Cap intends to use the funds raised to advance the Letlhakane Uranium Project in Botswana, including the completion of a feasibility study and further exploration with the objective of increasing the resource base of the project," Polo Resources said in a statement on Wednesday.