Botswana – Copper-focused mining company African Copper’s application to de-list from the Botswana Stock Exchange (BSE) has been granted.
This is following approval from African Copper’s shareholders to proceed with the de-listing process. The company has also filed to cancel its trading on London’s AIM exchange as well.
27 August 2015 will be the last day for trading ordinary shares of African Copper listed on the BSE, with the BSE cancellation becoming effective from 7.00 am on 28 August 2015.
In May this year, African Copper announced that due to the early termination of its Thakadu mine, coupled with unforeseen shortfalls in production, it had found itself in a current working capital deficit.
It was able to secure two loan facilities of US$1.5 million and $2 million from the Copperbelt Development Foundation (CDF) to assist with working capital requirements this year.
Together with its holding company shareholder Zambia Copper Investments, African Copper is looking to secure long-term funding – as reported in its last media statement.