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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	KAS
Latest Price:	0.22 (-2.17% )
52-week High:	0.38
52-week Low:	0.14
Market Cap:	81.96M

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Kasbah Resources Full Kasbah Resources profile here

Kasbah Resources (ASX: KAS) is an advanced explorer and developer purely focussed on tin. Kasbah’s main focus has been to progress the Achmmach Tin Project in Morocco, having established a robust underground JORC resource.

Recent drilling results indicate that Achmmach is rapidly transforming into a asset with considerable potential for a substantial underground mine to be developed. Kasbah has built a presence in Morocco with strong relationships with Morocco’s Mines Department and the local Moroccan community.

Kasbah Resources gains IFC as shareholder to advance Achmmach Tin Project

Wednesday, March 17, 2010

Australian listed, Moroccan based Kasbah Resources (ASX:KAS) will add IFC, a member of the World Bank Group as a shareholder.

Kasbah will place 32.5M fully paid ordinary shares at AUD$0.075 cents per share to IFC to raise AUD$2.4M to advance the exploration and development programmes at the company’s Achmmach Tin Project in Morocco.

Existing and largest shareholder, African Lion Fund has also agreed to a placement of 14.5M shares on the same terms to provide an additional AUD$1.1M in funding. Both parties will be entitled to 1 option for every 2 Kasbah shares subscribed for with each option convertible any time during two years at a AUD$0.25 cent strike price.

The total raising will provide Kasbah with AUD$3.5M to advance the Achmmach Tin Project to the next phase of development.

Wayne Bramwell, managing director of Kasbah said the Achmmach Tin Project is beginning to obtain recognition as a world class tin asset. The investment by the two investors validates the company’s belief in the value than can be unlocked from the further development of the project.

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