Moonbound Mining has concluded its second private placement offering, securing N$25.5 million (US$1.3 million) through the sale of 4,493,334 common shares at US$0.30 per share.
These funds are earmarked for general capital purposes to propel the company’s projects forward in Namibia and Canada.
Anticipating further progress, Moonbound Mining foresees closing an additional tranche of the private placement offering by the end of March 2024.
This follows the initial private placement, conducted in December 2023, which aimed to raise approximately N$95 million (US$5 million) through the sale of up to 16,666,666 common shares at US$0.30 each.
Moonbound Mining’s collaboration with Continental Lithium Africa Development Corporation on the Stratham mining claims in Namibia underscores its strategic focus.
Continental Lithium Africa Development Corporation, a mineral resource development firm, targets significant lithium and battery metals resources across Africa.
Moonbound Mining’s portfolio encompasses two exploration projects: the Yak Property in northwestern British Columbia, Canada, and the Strathmore Property in Namibia, comprising seven mining licenses.
Located within the Cape Cross-Uis area, the Strathmore mining claims fall under titles 70010, 70011, 70012, 70459, and 70460.
The Cape Cross-Uis Pegmatite Belt, spanning 115km from Cape Cross to Uis and up to 24km wide, presents substantial mineral potential.
This strategic positioning enhances Moonbound Mining’s prospects for tapping into valuable resources and advancing its exploration endeavors.
