Even as uranium snatches all the buzz, we're still seeing the usual customers among non-brokered placements this week: junior mining companies with big plans for their projects.
1. Sabina Gold and Silver Corp. (TSX: SBB)
- Gross Proceeds: $95 million
- Sector: Gold
- Units issued: 92.13 million
- Type: Common shares
- Price: $1.30
- Warrants: None
- Agents: Non-brokered
- Use of Proceeds: Mine construction
Company breakdown:
- Precious metal junior whose shares have been on the decline for over a year
- Actually two equity financings, part of a $520 million financing package for construction of the company's Goose Mine in Nunavut
- The pair of equity financings are partially subscribed by Wheaton Precious Metals and Orion Mine Finance
- Has given a stream agreement with Wheaton for 4.15 percent of gold production from the eventual mine
2. Bearing Lithium Corp. (TSX-V: BRZ)
- Gross Proceeds: $3.13 million
- Sector: Lithium
- Units issued: 12.5 million
- Type: Common shares
- Price: $0.25
- Warrants: None
- Agents: Non-brokered
- Use of Proceeds: General working capital
Company breakdown:
- Lithium company which owns 17.4 percent of the Marincunga project in Chile, which the company says is the highest-grade undeveloped lithium asset in the Americas
- A recent definite feasibility study pegged the project with an after-tax net-present value of $1.4 billion, with an annual production of 15,200 tonnes for 20 years
- Shares of the company jumped back in October, not long after the company announced a 90 percent increase to Marincunga's previous confirmed resource endowment
Recent Articles
May 2, 2024
May 1, 2024
Apr 18, 2024