Chamwe Kaira
Tsodilo Resources Limited has raised 900 000 Canadian dollars (about N$12.6 million) through a private placement to advance its mineral projects in Botswana.
The company said the funding will support its critical minerals and rare earth elements project, as well as the Xaudum Iron Formation project.
Tsodilo confirmed that it issued 4.5 million units at a price of C$0.20 per unit.
Each unit includes one common share and one share purchase warrant.
Each warrant allows the holder to buy an additional share at US$0.20 within five years.
The securities are subject to a holding period of four months and one day, ending on 19 July 2026.
The company said the warrants may expire earlier if the share price reaches at least US$0.35 for 10 consecutive trading days after the holding period.
Tsodilo said the funds will also support general working capital needs.
The company operates through its subsidiary, Gcwihaba Resources (Pty) Ltd.
Its portfolio includes five prospecting licences in Botswana’s North-West district.
These licences cover base metals, precious metals, platinum group metals and rare earth elements.
As the projects develop, Tsodilo plans to use Namibia’s logistics routes to export minerals through local ports.
The company has also highlighted the importance of the proposed Trans-Zambezi Railway Extension from Grootfontein to Katima Mulilo.
This railway is expected to link Namibia, Botswana and Zambia and connect to Zimbabwe and the Democratic Republic of Congo.
The project forms part of the Walvis Bay–Ndola–Lubumbashi Development Corridor, which supports the movement of minerals from the Copperbelt to the port of Walvis Bay.
