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.
Shares of Mexican miner Penoles, one of the world’s largest silver producers, on Wednesday rose to their highest levels since November 2018 after subsidiary Fresnillo reported strong second-quarter results.
Advance Gold Corp. announces that,subject to the approval of the TSX Venture Exchange, it proposes to increase to $500,000 its previously announced non-brokered private placement of units at a price of 10 cents per Unit for gross proceeds of $500,000.
VanGold Mining Corp announces that due to increased demand the Company has expanded the size of its non-brokered private placement financing announced July 21, 2020 The Financing will now consist of a total of 24,500,000 units at a price of $0.155 per Unit for gross proceeds of $3,797,500.
I am pleased to report resilient production performance with further progress made on our mine improvement initiatives. As a result, we are maintaining our silver guidance for the full year, though we have reduced our gold guidance due to COVID-19 related working restrictions mainly at our Herradura and Noche Buena mines which have impacted production volumes.
The proceeds of the Placement will be used to fund expanded drill programs on the Company’s silver-gold exploration projects in Mexico.
Golden Minerals Company announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 17,857,143 shares of common stock of the Company, at a price to the public of $0.42 per share, less customary underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Almas project was taken over by Aura early in 2018, as result of the merger of the Company with Rio Novo Gold.
VanGold intends to use the net proceeds from the Financing to accelerate the development of the El Pinguico silver and gold project in Guanajuato, Mexico, and for general corporate and working capital purposes. Specifically, the Company intends to initiate an underground drilling campaign to target extensions of high-grade in-situ silver and gold epithermal veins and stockworks.
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