Ilala Metals Ltd (proposed code: IL1) managing director Richard Henning joins Proactive’s Tylah Tully to discuss the company’s Initial Public Offering (IPO) to raise $5 million, with the option to accept up to a further $3 million in oversubscriptions.

The funds will support ongoing exploration and initial drilling at the Serule Uranium Project in Botswana, advancement of the Central Copper Project in the country’s prolific Kalahari Copper Belt and exploration at other uranium projects in Botswana.

Following completion of the IPO, Ilala Metals plans to list on the Australian Securities Exchange (ASX) in September this year.

It holds 100% stakes in multiple copper and uranium leases in Botswana, covering 13,177 square kilometres and a lithium-tantalum project in Namibia. The Serule Project, adjacent to Lotus Resources’ Letlhakane Uranium Project, has shown promising results, with 1,062 metres of drilling completed and analysis pending. The Central Copper Project has also progressed, with a recent magnetic survey extending coverage to the entire dome target area, identifying structural targets for further exploration.

The company has been hard at work over the past year and with plenty of news flow to come, is set for a strong last quarter of 2024. 

Video source is Proactive Investors