Sunday, July 11, 2010

The Soros Botswana Play

Discovery Metals, which has George Soros as a shareholder, is looking to raise $150m in loans and new shares later this year, according to UK's Independent.

It needs the money to develop the Boseto copper mine in north-west Botswana.

Brad Sampson, the group's managing director, will present a feasibility study to the board later this month, which is expected to show that the mine could produce more than 30,000 tonnes of copper a year, says the Independent.

With Soros in the mix, don't be surprised to ultimately see some Import-Export, World Bank, etc. money find its way to Discovery.

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