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Independent copper and future metals developer, Serval Resources’ has announced results for the company’s retail offer which has raised to £7 million, expected to fund copper exploration in both Namibia and Botswana.
According to the company, the fundraising has conditionally raised total gross proceeds of approximately £7 million before expenses, through the issue of, in aggregate, 28,178,612 new ordinary shares at the issue price.
“This is a fantastic result for the company and a validation of the high quality of our copper exploration portfolio in both Namibia and Botswana,” said Robin Birchall, Chief Executive Officer of Serval.
Birchall extended appreciation to Capital Drilling and associates, other professional and retail investors that participated in the fundraise, for supporting plans to create an independent copper and future metals developer.
“We believe that the emerging copper belts in Africa represent some of the world’s last under-explored, large-scale copper frontiers.
“Our work in Namibia’s Kaoko Basin to date has delineated multiple high-grade copper-silver prospects over significant strike length, which we believe indicates signs of a large fertile mineralised district, and the 20,000 metres drilling programme gives us the opportunity to properly test this system and work towards a maiden resource estimate in 2027,” said Birchall.
He said the company is well positioned in Botswana.
“We are aiming to establish the mineralised contact on our licences closest to the Khoemacau operation in the Kalahari Copper Belt, and we can also continue our evaluation of the interesting Duékoué copper-molybdenum-gold anomalies in Côte d’Ivoire.”
Meanwhile the company said it is putting exploration programmes into action now, with drill rig mobilisation in Namibia expected to begin at the start of November 2026, and to keep the market informed of our progress.
