Michael McPhie, former CEO of the Mining Association of British Columbia, intends to clear his company’s name after it was implicated in share distribution scandal.
While company denied media reports that it had sold Lumwana, it said that given the challenging conditions the mine was facing in Zambia, all options would have to be considered.
MOD also said it would raise about A$15 million via a share placement and rights issue, with the majority of the proceeds to be used to advance the T3 copper project in Botswana towards production.
