 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Metallic Minerals (TSX.V: MMG) announced last week a strategic equity investment by a wholly-owned subsidiary of Newcrest Mining in the form of a non-brokered private placement, with the goal of advancing the company’s La Plata copper-silver-gold-platinum group element alkalic porphyry project in Colorado, U.S.
Pursuant to the private placement, Newcrest will complete a financing of $6.34 million, consisting of 15,838,593 units of Metallic Minerals at a price of $0.40 per unit, with each unit comprising one common share and 0.75 of a common share purchase warrant. This represents a 13% premium to the 20-day volume weighted average price of Metallic Minerals’ shares on the TSX-V on May 9, 2023.
