2 Financings You Need to Know About This Week (June 6-June 10)

June 10, 2022 01:17 PM PST

1.  Banyan Gold Corp. (CSE: BYN)

  • Gross Proceeds: $16.5 million
  • Sector: Precious metals
  • Units issued: 16.21 million
  • Type: Charity flow-through shares; flow-through shares
  • Price: $0.63; $0.55
  • Warrants: None
  • Agents: Non-brokered
  • Use of Proceeds: Flow-through expenses

Company breakdown:

  • Gold junior with the Hyland and AurMac gold projects in southeast Yukon.
  • An NI 43-101 report for Hyland indicated 8.6 million tonnes grading 0.85 gold-equivalent grams per tonne for a total of 236,000 ounces and 10.8 million tonnes grading 0.85 g/t AuEq for 288,000 inferred.
  • Shares have been on the rise since December, amid abundant drill results

2. Golden Shield Resources Inc. (CSE: GSRI)

  • Gross Proceeds: $9.5 million
  • Sector: Precious metals
  • Units issued: 10.9 million units
  • Type: Special units
  • Price: $0.55
  • Warrants: Full; $1.10; Two years
  • Agents: Canaccord Genuity Corp.
  • Use of Proceeds: Working capital

Company breakdown:

  • Gold junior with projects in Guyana
  • Started up late last year
  • Shares dropped precipitously after the company reported drill results including 33 metres of 3.45 grams of gold per tonne at the Marudi project

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