Published: 25 June 2025

Canadian-based exploration and development firm Pambili Natural Resources Corporation has announced plans to raise C$1 million through a non-brokered private placement on the TSX Venture Exchange. The capital raise is aimed at supporting the company's mining operations in Zimbabwe, specifically the continued development of its Golden Valley A1 mining claim near Bulawayo and the completion of due diligence at the London Wall project near Gwanda.

According to a statement by the company, up to 20 million units will be offered at a price of C$0.05 per unit. Each unit comprises one common share and one common share purchase warrant with an exercise price of C$0.10, valid for one year from the date of closing. Pambili said it plans to pay a finder's fee of five percent of the proceeds in units. These units will be offered under prospectus exemptions provided by applicable securities laws, including National Instrument 45-106.

The participation of insiders in the offering has triggered related party transaction rules under Multilateral Instrument 61-101, but the company says it will rely on available exemptions, since insider participation is expected to remain below 25 percent of the company's market capitalisation.

Proceeds from the fundraising initiative will be used as general working capital and to support exploration and potential pilot production activities in Zimbabwe. The London Wall project, which the company has an option to acquire, is the focus of due diligence and preparatory work that could lead to small-scale production ahead of a possible full takeover.

Pambili's Chief Executive Officer, Jon Harris, expressed strong optimism about the prospects of the London Wall project. He said that with prevailing strong gold prices and promising historical data from the site, the project has the potential to become a commercially viable mining operation. Harris added that the funds will allow the company to rehabilitate the East Shaft and complete surveys of previously developed areas within the site, a critical step toward initiating pilot production.

Pambili Natural Resources Corporation is currently focused on the exploration and development of gold assets in Zimbabwe. The company's strategic push into Zimbabwean mining is part of a broader move to tap into the country's underdeveloped but mineral-rich gold sector.
- NewZimbabwe