LSE-listed Kavango Resources has entered into a strategic financing agreement to raise a further £500 000.
Under the terms of the agreement, the company, which explores for base and precious metals in Botswana, will issue about 27.78-million shares to strategic investor Arigo Capital.
"Following yesterday's £3-million strategic financing, I am extremely happy to welcome our second strategic investor into Kavango for an additional £500 000 investment.
"With all the progress we've made across our portfolio over the last 12 months, this is an incredibly exciting time to be involved in this business. We are now extremely well positioned to pursue our ambition of making multiple major metal discoveries in Botswana," Kavango CEO Ben Turney says.