Kennedy Ventures plc (“Kennedy Ventures” or “the Company”), the AIM quoted investment company, who through its stake in African Tantalum (Pty) Limited (“Aftan”) has an interest in the Tantalite Valley Mine (“TVM”) in Namibia, is pleased to announce that it has raised £1.25 million before expenses through a placing of 13,888,889 new ordinary shares of 1p each (“Ordinary Shares”) at a price of 9p each (the “Placing”).
As quoted in the press release:
“TVM represents one of the best quality tantalite mines I have seen during my long career in the industry. The upgrade and additional enhancements to the plant are designed to deliver efficiencies that will generate long-term cash flow benefits to Aftan and ultimately to the Company. Furthermore, through discussions with potential purchasers of our product, we are helping Aftan to ensure that it is in a position of strength for future years with respect to receiving the optimal price for TVM’s high quality product,” Larry F. Johnson, CEO of Kennedy Ventures said.