Golden Deeps raises N$105m capital

• By Business Reporter

EMERGING explorer-developer Golden Deeps has completed a heavily oversubscribed placement to sophisticated and professional investors to raise N$105 million for the issue of 379.3-million fully paid ordinary shares.

The funds raised will be used to fast-track metallurgical test work and mining and processing studies on the company’s near-surface, high-grade copper, vanadium, lead, zinc and silver projects in the Otavi copperbelt of northern Namibia.
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Moreover, the funds will be used to accelerate exploration drilling of high-grade copper/silver sulphide targets that have been identified down-plunge of the Nosib and Khusib Springs deposits in Namibia.

Golden Deeps intends to also use some of the funds to rapidly advance exploration of a potential new copper discovery at the Havilah project, in the Lachlan Fold Belt of central New South Wales, Australia.

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“We are extremely pleased to have received such strong support from investors for this N$105 million capital raising.

“We will now rapidly advance test work and development studies for our high-grade vanadium and copper/lead/zinc projects in Namibia, as we look to develop near-term production of key battery metals products for renewable energy industries globally.

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“We will also accelerate drill-testing of our high-grade brownfield copper/silver targets in Namibia, as well as copper and gold targets in the Lachlan Fold Belt of New South Wales,” says CEO Jon Dugdale.

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Golden Deeps is an emerging explorer-developer focused on the Otavi Mountain Land (Otavi) Copper District of Namibia.  Golden Deeps has very high-grade battery-metals deposits including vanadium and copper as well as lead, zinc and silver, on a brownfields site with limited modern exploration.

It has a unique regional development and processing model based on building resources and advancing development planning with the ultimate objective of becoming a key player in the supply of battery minerals, such as vanadium and copper, for the rapidly growing EV and renewables markets.

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Golden Deeps also has two highly prospective and historically under-explored gold and copper-gold projects in the world-class, Lachlan Fold Belt of NSW, Australia, as well as high-grade cobalt projects in Ontario, Canada.