Kopore Metals (ASX:KMT) aims to raise $3m for exploration activities

• Kopore Metals (KMT) launches a placement to raise $3 million for exploration and development of its projects as well as working capital
• The company will issue 90.9 million new shares at a price of 3.3 cents each, representing a 13.2 per cent discount to the last closing price
• KMT has received firm commitments from new and existing shareholders, including domestic and offshore institutional investors
• Most of the funds will be directed towards the Agadez uranium project in Niger
• Shares were trading 8.11 per cent higher today at 4 cents each at 11:08 am AEST

Kopore Metals (KMT) has launched a placement to raise $3 million for exploration and development of its projects as well as working capital.

The company will issue 90.9 million new shares at a price of 3.3 cents each, representing a 13.2 per cent discount to the last closing price.

The majority of the shares will be issued under the company’s placement capacity, with 1.5 million shares subject to shareholder approval.

KMT has received firm commitments from new and existing shareholders, including domestic and offshore institutional investors.

Most of the funds will be directed towards its Agadez uranium project in Niger.

Managing Director Caroline Keats said she is pleased with the placement.

“With the exploration program due to commence in early June 2022 with a 5500-metre drilling program at Agadez, we expect consistent news-flow over the coming months, as we continue to unlock the value of the Agadez project for our shareholders,” she said.

Shares were trading 8.11 per cent higher today at 4 cents each at 11:08 am AEST.