Pangolin Diamonds raises $848 860 for exploration
Pangolin Diamonds on Monday closed a nonbrokered private placement financing for aggregated gross proceeds of $848 860.
The proceeds will be used to continue exploration at the company’s wholly owned exploration projects in Botswana, including the Phase 1 drilling programme at MSC, the company’s advanced-stage exploration project.
Drilling is set to begin in quarter four of this year to test multiple priority targets recently identified through a combination of soil sampling and high-density ground-magnetic surveys.
A portion of the funds will be allocated toward further evaluation of the diamondiferous AK10 kimberlite pipe, on which the company holds the option to earn up to 75% interest.
CFO Graham Warren subscribed for 600 000 units, valued at about $30 000.
Pangolin extended its option to enter into a formal joint venture on the diamondiferous AK10 kimberlite pipe to June 30, 2020. Pangolin can earn 51% of the project on producing 500 ct of diamonds and 75% of the project on completing a bankable feasibility study.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation