- Write by:
-
Saturday, July 20, 2019 - 10:44:25 AM
-
1363 Visit
-
Print
Mining News Pro - Vancouver-based Aftermath Silver’s (TSX: AAG.H) stock was up over 20% Friday, after it announced it is increasing its non-brokered private placement from 18.7 million units to up to 25 million units at a price of C$0.08 cents per share.
Aftermath said it will use the proceeds for the acquisition and exploration of the Challacollo and Cachinal silver-gold projects in Chile and for general working capital.
Aftermath Silver will use the proceeds for the acquisition and exploration of the Challacollo and Cachinal projects
Aftermath entered into a non-binding letter of intent with Mandalay Resources to purchase its 100% interest in the Challacollo deposit, which hosts a historic 30 million silver ounce Indicated Mineral Resource (4.7 million tonnes at 200 g/t silver) and a 6.9 million silver ounce Inferred Mineral Resource (1.6 million tonnes of 134 g/t), with associated gold credits.
The Challacollo project is located in Chile’s Tarapaca region, about 130 km southeast of the port city of Iquique.
Aftermath also entered into a definitive agreement with Halo Labs to purchase its 80% interest in the Cachinal silver-gold project in Chile.
The Cachinal project is in Chile’s Antofagasta region and the deposit hosts a current CIM compliant 18.4 million silver ounce Indicated Mineral Resource (5.66 million tonnes of 101 g/t) and 3 million silver ounce Inferred Mineral Resource (0.82 million tonnes of 115 g/t), with associated gold credit.
The deal is subject to the approval of the TSX Venture Exchange. At market close Friday, Aftermath’s shares had been traded 244,000 times, over 100 times the average daily volume of 2,285. The company has a C$2.6 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/400350
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
The chairman of Chile’s state-run copper giant Codelco said on Monday that he expects to reach a lithium deal with ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
Ucore Rate Metals (TSXV: UCU) has deemed a 26-tonne sample of mixed rare earth carbonate (MREC) from the Wicheeda mine ...
Australian Strategic Materials ASM.AX said on Friday it has received a non-binding letter of interest for a debt funding ...
Copper miner Antofagasta Plc is holding meetings with investors this week for its first dollar bond offering in nearly ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Australia’s Westgold Resources said on Monday it had agreed to acquire Toronto-listed Karora Resources in a ...
No comments have been posted yet ...