Golden Minerals Company announced today the closing of its previously announced public underwritten offering of 20,535,714 shares of common stock of the Company, including the exercise in full by the underwriter of its option to purchase an additional 2,678,571 shares of common stock, at a price to the public of $0.42 per share.
Bob Willis, CEO and director, stated, “This is a very exciting time for all San Marco shareholders as we are now fully financed for a 10,000m drill program scheduled to start very shortly. We welcome our new strong institutional investor base and are looking forward to expand on the excellent results to date at the Buck Property.”
Mr. Eric Sprott commented, “Discovery provides unmatched leverage to a rising silver price and I am very encouraged to see the Discovery team continue to execute on their plans at the Cordero project. I have continually grown my position in the Company and it is now one of my largest investments in the silver space.”
Evrim will transfer a 100% interest in the La Lola and Cumaro properties in exchange for a respective 2% NSR and 1% NSR on any future production.
The Company intends to use the net proceeds of the Offering for the exploration of its San Jose Project and for general corporate and working capital purposes.
“Upon completion of the financing, we intend to immediately commence the deeper drill program, as the requisite permits are in place and both our technical team and the drill crews are based in Hermosillo and do not require any cross-border travel,” said Kenneth MacLeod, President and CEO of Sonoro.
Almaden intends to use the net proceeds of the Offering for permitting activities relating to the Ixtaca project, and for general corporate purposes.
The net proceeds of the Offering will be used to for the advancement of the Company’s Magino Project and for general corporate purposes.
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.
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