Serval Resources Plans GBP6.5 Million Fundraise For African Copper Drilling

01:23 AM EDT, 10/15/2026 (MT Newswires) -- Serval Resources (SRVL.L) announced a proposed fundraise of at least 6.5 million pounds sterling priced at 0.25 pound per share to fast-track exploration across its African copper portfolio. The UK-listed metals explorer said Wednesday that shareholder Capital Drilling and its associates will invest 3.8 million pounds under the conditional placing and subscription. Serval Resources plans to hire Capital Drilling's subsidiary for the large-scale drilling at the Kaoko Basin project in Namibia and allocate 3 million pounds from the proceeds, with work expected to start on Nov. 1. It also intends to use the net proceeds to fund a maiden drilling program in Botswana and continued exploration work on the Duékoué project in Côte d'Ivoire. The firm placing shares are expected to be admitted on the London bourse's AIM segment by Friday, and the conditional shares on or around Nov. 3, subject to a general meeting.