West Perth-based tin and tungsten exploration company Kasbah Resources Ltd plans to raise A$10 million to fund feasibility studies on its Moroccan tenements. An initial public offering of 40 million shares at A$0.25 per share opened on Monday and is due to close on 5 April.
Kasbah has exclusive options to acquire two tin projects – Achmmach and El Karit – located in the Middle Atlas mountains of Morocco. Work carried out in 2006 established a JORC compliant inferred mineral resource at Achmmach of 2 Mt grading 1% tin. Kasbah aims to undertake a feasibility study and “move these projects to advanced exploration/development decision points within 12-18 months.”
