placement - The Company will use the proceeds to complete infill...

placement -
The Company will use the proceeds to complete infill drilling and commence a pre-feasibility
study on its Takatokwane Coal Project in Botswana, where independent consultants have
delineated an Inferred Resource of 4.2 billion tonnes of thermal coal. The funds will also allow Nimrodel to undertake a minor drilling program at the Specimen
Reef project in Tasmania and first-pass exploration in Tanzania, as well as for general
working capital. "These funds will play a vital role in the development of our major project, Takatokwane in Botswana", Managing Director, Chris Mason said. "Results of our Scoping Study are due in late March and the funds raised here will ensure that we are sufficiently funded through completion of an infill drilling program and the
pursuant Pre-Feasibility Study," he said.