Non-Renounceable Rights Issue

Kasbah Resources Limited (ASX:KAS) advises it intends to undertake a capital raising of approximately $8.3M (before costs) through a pro-rata non-renounceable rights issue.

Kasbah Managing Director Wayne Bramwell said:

"The capital raising provides Kasbah the ability to extend the Western Zone Shallows target while concurrently continuing the optimisation of the Achmmach DFS Programme.

Additional funding increases the Companys leverage with respect to financing and offtake negotiations.  There are few projects currently seeking project financing from the international debt market, and even less new sustainable sources of tin concentrates available to the tin sector.

On all fronts, the competition to provide debt for Achmmach and / or secure off-take rights is high."

ENDS 

To view, please find the link below:

Rights Issue ASX Release

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