Wednesday, January 27, 2021

Shumba Coal to raise P27.5 million for new power station

Junior mining explorer, Shumba Coal says it intends to raise at least P27.5 million through Private Placement consisting of 19,695,856 Shares of the Company at a price of P1.40 per Share.

These new Shares will be admitted for listing by the local bourse, the Botswana Stock Exchange (BSE) as well as the Stock Exchange of Mauritius Limited (SEM) following completion of regulatory approval processes. The funding shall be used to accelerate the development of the Company’s energy projects in Botswana.

Shumba Coal intends to develop one or more 300MW or larger power stations in addition to producing coal for domestic and regional consumption.

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