Kuits advises Kennedy Ventures on £1.25m share placing01 Feb 2017
Kuits has advised Kennedy Ventures plc, an AIM-traded investment company, on a placing that has raised gross proceeds of £1.25 million through the issue of 13,888,889 Ordinary Shares at a placing price of 9p each.
The placing will enable the company to further invest in the Tantalite Valley Mine (“TVM”) in Namibia via its stake in African Tantalum (Pty) Limited (“Aftan”), accelerating its ongoing studies into a lithium orebody, as well as provide general working capital.
Larry F. Johnson, CEO of Kennedy Ventures, said: “TVM represents one of the best quality tantalite mines I have seen during my long career in the industry. Lithium remains a key focus for Aftan and [it] is continuing with its work to support ongoing resource estimation studies, including trench sampling and metallurgical studies at TVM.”
Kirsti Pinnell, corporate partner for Kuits, led the team advising Kennedy Ventures on its placing.
She commented: “Our client expects 2017 to be a transformational year, and we are delighted to have been involved in generating the central capital that will enable Kennedy Ventures and Aftan to drive their projects forward.”