Staff Writer
Tsodilo Resources Limited has raised about N$10.2 million through a non-brokered private placement to support its critical and rare earth metals projects.
The company plans to ship its products through Namibia once mining begins.
The financing closed on 2 February 2026 and generated gross proceeds of C$742,095, equal to about N$10.2 million. Tsodilo issued 4,947,297 units at a price of C$0.15 per unit, or about N$2.06 per unit.
Each unit includes one ordinary share and one share purchase warrant. The warrants allow holders to buy one additional ordinary share over five years at an exercise price of US$0.15 per share, about N$2.78.
All shares and warrants issued under the placement are subject to a four-month-and-one-day holding period, which ends on 3 June 2026.
Tsodilo said if its shares trade at or above US$0.30 per share, about N$5.55, on the TSX Venture Exchange for 10 consecutive trading days after the hold period, the company may accelerate the warrant expiry to 30 days after notice to holders.
The company will use the funds to advance its Critical and Rare Earth Metals project and the Xaudum Iron Formation project and to cover general corporate and working capital needs.
Tsodilo operates in Botswana through its wholly owned subsidiary, Gcwihaba Resources (Pty) Limited.
The company holds a 100% interest in five prospecting licences covering base metals, precious metals, platinum group metals and rare earth elements in Botswana’s North-West District.
The Walvis Bay Corridor Group (WBCG) has welcomed Tsodilo’s support for Namibia’s railway upgrades and expansion plans.
Key projects include the rehabilitation of the Walvis Bay–Tsumeb railway line and the planned extension from Grootfontein to Katima Mulilo under the Trans-Zambezi Railway initiative.
These developments aim to strengthen Namibia’s role as a regional trade route.
Tsodilo has said it plans to use the Walvis Bay Corridors to export high-grade iron ore.
The company also plans transport links in Botswana that will connect through Divundu, underlining the importance of the Grootfontein–Katima Mulilo rail expansion.
Caption
Tsodilo has raised about N$10.2 million to support its critical and rare earth metals projects in Botswana.
- Photo: Contributed
