- Write by:
-
Tuesday, October 22, 2019 - 12:10:12 PM
-
685 Visit
-
Print
Mining News Pro - Sirios Resources (TSXV: SOI) has completed a non-brokered private placement for aggregate gross proceeds of C$1.48 million, the Québec-based gold miner announced Monday. The company issued 7.4 million units at C$0.20 per unit, a premium to the current share price of C$0.18.
Newmont Goldcorp increased its ownership from 15.9% up to 19.9% of the share capital of Sirios on a partially diluted basis by acquiring 5.41 million or 73% of the issued units.
Each unit comprises one common share of Sirios and one-half of a share purchase warrant. Each full warrant gives the holder the right to purchase one common share at an exercise price of C$0.30 per share for 18 months following the closing date.
Sirios intends to use the proceeds of the placement for exploration and infrastructure improvements on its Cheechoo gold project, which neighbours Newmont’s Éléonore gold mine located in the Eeyou Istchee James Bay region of Québec. The project is the most promising gold discovery made in company history, and it is one of few projects that are in resource estimation phase in the province.
Recently, Sirios reported encouraging metallurgical test results from the project site, showing that the type of gold mineralization at Cheechoo is easy to extract and has high recovery rates.
Short Link:
https://www.miningnews.ir/En/News/436245
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Interros, Nornickel’s largest shareholder, on Monday called allegations by fellow shareholder Rusal about undervalued ...
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.
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
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 ...
No comments have been posted yet ...