Kavango Resources PLC (LON:KAV) has raised £250,000 through a placing of just under 9mln shares at a price of 2.8p each.
The fundraiser comes immediately after a 25 February 2019 placing, which raised £500,000.
The most recent placing came following an approach from broker Turner Pope.
Each placing share has a warrant exercisable at 12p.
The funds will be used to accelerate exploration at the Kalahari Suture Zone project in southwest Botswana.
"We are extremely pleased to welcome our new investors introduced by Turner Pope, who have successfully assisted the company in raising an additional £250,000,” said chief executive Michael Foster.
“The proceeds will allow Kavango to accelerate further its exploration program at the KSZ project area. The KSZ project covers over 9,000 square kilometres of prospecting licences prospective for base metals in southwest Botswana. The funds will also assist us to review other highly selective but potentially very interesting natural resource opportunities in Botswana.”