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 & Silver Corp. (TSX: SBB)
- Gross Proceeds: $13.75 million
- Sector: Precious metals
- Units issued: 7.3 million
- Type: Flow-through shares
- Price: $1.87
- Warrants: None
- Agents: Non-brokered
- Use of Proceeds: Ongoing exploration
Company breakdown:
- Junior gold miner that owns its fairly advanced flagship project Back River in Nunvavut
- A recently released feasibility study pegged the project with an annual production of 223,000 ounces of gold a year for 15 years, with a payback of 2.3 years, and a net-present value of $1.1 billion
- Proceeds from the offering are slated for the "continued advancement of the Umwelt underground exploration decline," according to the release, and is fully subscribed
- Shares of Sabina are down 9 cents since announcing the financing, closing at $1.45 on Friday
2. Fury Gold Mines Ltd. (TSX: FURY)
- Gross Proceeds: $5.03 million
- Sector: Precious metals
- Units issued: 6.7 million
- Type: Special units
- Price: $0.75
- Warrants: Full; $1.20; Two years
- Agents: Non-brokered
- Use of Proceeds: Ongoing exploration
Company breakdown:
- Junior gold miner with projects in James Bay in Quebec, the Golden Triangle in British Columbia, and the Kitikmeot region of Nunavut
- Recently drilled 12.81 grams of gold per tonne (g/t Au) over 1.0 metre and 1.18 g/t Au over 8.0 metres at the Hinge target of its Eau Claire project, completing 32,000 metres of drilling at the project so far, with drilling ongoing
- Recently appointed Tim Clark, a financier with 23 years experience, as CEO
- Shares are down 5 cents following the announcement of the private placement, to close at 80 cents on Friday
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