The net proceeds of the Offering will be used to for the advancement of the Company’s Magino Project and for general corporate purposes.
Redstar Chairman Jacques Vaillancourt said “This is an exciting watershed for Redstar. The proposed acquisition promises several key strategic additions; a portfolio of exciting projects in Mexico, funding to achieve short term exploration goals and a strong addition to our management team with the appointment of Charles Funk. Unga will remain our flagship asset and our focus in 2020 will be to add to the maiden 383,318 oz gold resource grading 13.8 g/t at SH-1.”
Richard C. Adkerson, President and Chief Executive Officer, said, “We are pleased to report that execution of the underground ramp-up at Grasberg is advancing according to plan and recent milestones are encouraging as we target increasing volumes and cash flows from the Grasberg minerals district. We are also progressing our Lone Star copper leach project in Arizona and remain optimistic about the long-term opportunities for this large resource.”
Alien Metals Ltd, a minerals exploration and development company, announces the appointment with immediate effect of Mark Culbert as a Non-Executive Director of the Company.
Santacruz Silver CEO, Carlos A. Silva states, “Santacruz is very pleased to have attracted Bryan Slusarchuk and the Zacatecas Silver team to the Properties. While we identified the potential and acquired the Properties during the downturn in the silver cycle we are now pleased to vend these Properties to an experienced team that can advance the Properties and maximize shareholder value in current market conditions. By transacting with Zacatecas Silver, we anticipate that the Properties will be very well funded and aggressively drilled.”
“We remain focused on protecting our people and communities, while continuing to operate responsibly and safely to support the economic recovery in the wake of the pandemic,” said Don Lindsay, President and CEO. “We took steps during the quarter to further strengthen our financial position, reduce costs and position Teck to significantly improve margins towards the end of 2020 and early 2021 as we complete major capital projects.”
Advance Gold Corp. announces that,subject to the approval of the TSX Venture Exchange, it proposes to increase to $725,000 its previously announced non-brokered private placement of units at a price of 10 cents per Unit for gross proceeds of $725,000.
Canasil Resources Inc. announces that the non-brokered private placement which was increased on July 21, 2020, to up to 6,250,000 units (the Units”) at a price of $0.20 per Unit for total gross proceeds of up to $1,250,000 is again oversubscribed. The Placement is increased to 7,500,000 units at $0.20 for gross proceeds of $1,500,000.
“The Rascadero area continues to return significant drill intercepts and the first holes into Las Lamas warrant additional drilling,” said Brad Langille, President and CEO.
The proceeds will be used for (i) repayment of the US$6 million bridge loan with Sprott Private Resource Lending II (Collector), LP entered into in connection with the acquisition of Otis Gold Corp., (ii) exploration on the Silver City, Platosa and Kilgore projects and (iii) general corporate purposes.
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