2 Financings You Need to Know About This Week (June 12-17)

June 17, 2022 02:09 PM PST

1. K92 Mining Inc. (TSX: KNT) 

  • Gross Proceeds: $50 million
  • Sector: Precious metals
  • Units issued: 5.41 million
  • Type: Common shares
  • Price: $9.25
  • Warrants: None
  • Agents: Clarus Securities, Cormark Securities
  • Use of Proceeds: Ongoing development

Company breakdown:

  • Gold producer with the well-known Kainantu mine in Papua New Guinea
  • Proceeds from financing will be used for ongoing expansion of the mine
  • Shares have been predominantly on the rise in 2022, amid solid earnings and ongoing drill results
  • Though, shares have dropped 9 percent since announcing the private placement

2. Niocorp Developments Ltd. (TSX: NB)

  • Gross Proceeds: $4.35 million
  • Sector: Metals
  • Units issued: 4.52 million
  • Type: Special units
  • Price: $0.95
  • Warrants: Full; $1.10; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Ongoing exploration

Company breakdown:

  • Metals exploration company that focuses on the Elk Creek Superalloy Materials project, which contains niobium, scandium, and titanium
  • A recent pre-feasibility study on the project supports a pre-tax net-present value of $2.56 billion, and a gross life-of-mine revenue of $20.8 billion
  • Shares of the company are at a 52-week low, despite a recent spike following the release of the study

You May Like