Skeleton Coast Uranium raises N$40.8 million

Canadian-listed Skeleton Coast Uranium has raised approximately N$40.8 million through the first tranche of a private placement to fund exploration across its licenses in the Erongo Region. The company issued over 18.6 million units to finance its ongoing operations and working capital, marking the first step in a larger placement targeting up to N$87.5 million. CEO Nathan Chutas confirmed that a further tranche is expected to close shortly. Skeleton Coast Uranium currently holds options to acquire up to 75% controlling interest in five Exclusive Prospecting Licenses covering 610 square kilometres in Erongo.

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