- Write by:
-
Thursday, June 20, 2019 - 12:20:12 PM
-
1008 Visit
-
Print
Mining News Pro - Vancouver-based Northern Dynasty Minerals, sole owner of the Pebble project 300 km from Anchorage, has arranged a US$5 million bought deal financing that will allow it to continue the 2019 field program and complete the environmental impact statement for the world’s largest undeveloped copper-gold deposit.
According to Mining News Pro - The lead underwriter is Cantor Fitzgerald Canada. That company and a syndicate of underwriters has agreed to purchase 12.2 million common shares of Northern Dynasty at a price of US$0.41 each, for gross proceeds of US$5.0 million. The underwriters have been given an over-allotment of an additional 1.83 million shares worth another US$750,000. The underwriters will also receive a 6.0% commission on the gross proceeds. The deal is expected to close on June 24, 2019.
Northern Dynasty says it continues to explore long term product financing options. Additional funding for the project is required by the end of 2019.
When the preliminary economic assessment was delivered in 2011, the cost of the Pebble project was estimated at US$5.76 billion. That is likely to change as the project goes forward and is de-risked.
Using a copper equivalent cut off of 0.3% for an open pit mine, the Pebble deposit has measured and indicated resources of 6.46 billion tonnes grading 0.40% copper, 0.34 g/t gold, and 240 ppm molybdenum. The inferred resource is 4.45 billion tonnes averaging 0.25% copper, 0.25 g/t gold, and 226 ppm molybdenum.
Short Link:
https://www.miningnews.ir/En/News/388581
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
No comments have been posted yet ...