- Tanga Resources (TRL) has received binding commitments to undertake a $7 million placement
- All up, 233.3 million shares will be issued to sophisticated and professional investors at three cents
- Tanga will use the money to undertake exploration at its recently acquired joint venture in Côte d’Ivoire and continue work at the Damara Project in Namibia
- As well as the placement, Tanga has appointed Andrew Pardey as Non-Executive Chairman
- Andrew’s career spans more than 30 years in the mining industry having experience in exploration, project development, construction, and operations
- Tanga has ended the day with no change and shares trading for 3.7 cents
