Kopore Metals Limited (ASX:KMT) has received firm commitments for a placement to raise A$3.0 million to fund the exploration and development of the company’s portfolio of assets, in particular the Agadez Uranium Project located in the highly prospective Tim Mersoi Basin of Niger.
The Placement was strongly supported by existing shareholders and incoming investors, including domestic and offshore institutional investors.
“We are extremely pleased with the response to the Placement with firm commitments to raise a total of $3.0m before costs,” Kopore Managing Director, Caroline Keats, said.
“In particular, we are delighted to have Kevin Bambrough supporting the Placement as a cornerstone investor, and we also welcome other new domestic and global investors to the register.
“With the exploration programme due to commence in early June 2022 with a 5,500 metre drilling program meat Agadez, we expect consistent news-flow over the coming months, as we continue to unlock the value of the Agadez Project for our shareholders.”
Kevin Bambrough, former President of Sprott Inc and CEO of Sprott Resources Corporation, was a cornerstone bidder in the Placement and has agreed to subscribe for Placement Shares via a direct placement by the Company.
“Having been responsible for Sprott’s very early investments in uranium equities, including Paladin at the start of the previous bull market, I am extremely excited to be a significant investor in Kopore at what I consider an important juncture for both the company’s development and the significant growth of the uranium sector,” Mr Bambrough said.
“Nuclear power and electric vehicles are the future and Kopore is well positioned, with its exposure to both uranium and copper, to capitalise on the rapid shift towards carbon free energy and transport.”
For further information please visit: https://www.koporemetals.com/