TSX-V-listed Deep-South Resources has closed its nonbrokered private placement for $4.6-million.
President and CEO Pierre Leveille commented on the strong demand, which led to the financing, and confirmed that the company had recently completed a preliminary economic assessment.
“We are preparing our upcoming drilling programme and, with the strong copper price, we are highly optimistic for the coming months,” he said in a January 21 statement, noting that Deep-South is “well-funded” to continue its development of the Haib copper project, in Namibia.
The funds will be used for further exploration and development of the Haib project and for general working capital.