Msalabs, the majority-owned subsidiary and laboratory business of Capital Ltd., has experienced significant operational and financial growth, securing a $10 million investment. As a result, Msalabs now boasts the largest international network of Chrysos PhotonAssay technology.
Expanding its reach globally, Msalabs plans to deploy 21 PhotonAssay units by 2025, with current units already operational in Central and East Africa, as well as Canada. This technological rollout is expected to be the primary driver of revenue growth for the company.
Furthermore, in parallel to its foray into PhotonAssay technology, Msalabs is actively expanding its traditional geochemical business across Africa. The company is developing several laboratories throughout the continent to support this growth.
To fuel its ambitious expansion plans, Msalabs has successfully raised $10 million in equity funding, with contributions from both Capital Ltd. and minority shareholders. These funds will be utilized for constructing new laboratories and facilitating the ongoing deployment of both PhotonAssay laboratories and the geochemical business.
As part of this funding initiative, Capital Ltd. ensured that all shareholders were given the opportunity to participate. Consequently, their shareholding in Msalabs has increased from 77.76% to 81.79%.