- Write by:
-
Tuesday, September 10, 2019 - 4:28:45 PM
-
648 Visit
-
Print
Mining News Pro - Toronto-based Marathon Gold Corp. has raised C$20 million through a bought deal private placement. The proceeds will be used for exploration and development at the Valentine Lake gold project.
Marathon will issue 2.7 million flow-through units at C$1.85 each and 11.4 million common share units at C$1.32 each. Each common share unit will consist of one Maraathon share and a purchase warrant worth one-half of a share. Gross proceeds will be about C$20.1 million.
The syndicate of underwriters are led by Canaccord Genuity and Sprott Capital Partners. The underwriters have also been granted an option to sell up to an additional 2.7 million flow-through units, with the potential to raise approximately C$5 million more.
Marathon is advancing its Valentine gold project 55 km south of Buchans. A preliminary economic assessment was completed in October 2018 that examined open pit mining and conventional milling. The resources currently total 16.6 million measured tonnes at 2.18 g/t gold containing 1.17 million oz.; 28.5 million indicated tonnes grading 1.66 g/t and containing 1.52 million oz.; and 26.9 million inferred tonnes at 1.77 g/t and containing 1.53 million oz. of gold.
Short Link:
https://www.miningnews.ir/En/News/421643
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
No comments have been posted yet ...