… nds would be used “for exploration work primarily in respect of its Namibian properties, and for working capital and general corporate purposes.” The company primarily operates in Namibia and has three gold exploration projects: the Omajete Gold Project, the Khorixas Gold Project …
Ongwe Minerals Inc closed its capital raise to Namibian investors before the Friday deadline after demand exceeded available shares. The company was seeking to raise up to CAD10 million for exploration work on its Namibian properties and general corporate purposes.
Why it matters
Ongwe Minerals closes early capital raise ahead of Friday deadline, signalling strong investor confidence in Namibian mineral exploration.
Ongwe Minerals Inc closed its capital raise to Namibian investors before the Friday deadline after demand exceeded available shares. The company was seeking to raise up to CAD10 million for exploration work on its Namibian properties and general corporate purposes.
Canadian exploration company Ongwe Minerals says new drilling results at its Manga prospect in Erongo region show a 2-kilometre-long underground gold zone larger than initially expected, with gold values ranging from low levels to 470 parts per billion. The company plans to extend drilling and sampling to track mineralisation further east beneath soil and calcrete cover.
Ongwe Minerals Inc, a Canadian-listed gold exploration company operating in Namibia, has listed on the Namibia Securities Exchange under the symbol "ONG" with trading commencing on 15 April. The dual listing is designed to allow local and institutional investors easier access to the company's shares and upcoming capital raises.
Great Quest Gold has rebranded as Ongwe Minerals Incorporated following a US$4.85-million acquisition of Canadian mineral exploration company Lotus Gold, positioning itself as a new gold explorer with exploration projects in Namibia's Damara Orogenic Belt and Egypt's Eastern Desert.