Metals Update 27/7/2020

Golden Minerals closes $8.6-million offering

Golden Minerals Co. has closed its previously announced public underwritten offering of 20,535,714 shares of common stock of the company, including the exercise in full by the underwriter of its option to purchase an additional 2,678,571 shares of common stock, at a price to the public of 42 cents per share. The gross proceeds to Golden from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Golden, were approximately $8.6-million.

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Moneta Porcupine closes $6.3-million private placement

Moneta Porcupine Mines Inc. has closed its oversubscribed non-brokered private placement.

The company issued 15,036,486 common shares at 14 cents per share and 19,997,662 flow-through shares at 21 cents per share for aggregate gross proceeds of $6,304,617.

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Aurion drills 0.1 m of 30.7 g/t Au at Launi East

Aurion Resources Ltd. has received assay results from a reconnaissance drilling program designed to test multiple gold targets at its wholly owned Launi East property in northern Finland. Drilling successfully intersected near-surface, high-grade gold mineralization on several of these targets.

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Evergold drills 1,675 m at Snoball property

Evergold Corp. has provided the following exploration update for its two 100-per-cent-owned flagship properties, Snoball and Golden Lion, both located in Northern British Columbia, Canada, upon which two separate exploration programs, including concurrent drilling, are now under way.

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Kerr Mines to acquire 3% GPR on Copperstone

Kerr Mines Inc. has entered into an agreement to acquire a 3-per-cent gross production royalty from Trans Oceanic Mineral Company Ltd. (TOMCL), which will reduce the aggregate royalty on the Copperstone gold mine from 6 per cent to 3 per cent.

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Canada Nickel creates NetZero Metals subsidiary

Canada Nickel Company Inc. has created a wholly owned subsidiary, NetZero Metals, to begin the research and development of a processing facility that would be located in the Timmins, Ont., region with the goal of utilizing existing technologies to produce zero-carbon nickel, cobalt and iron products.

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Metallic Minerals arranges $6-million financing

Metallic Minerals Corp. has entered into an agreement with Canaccord Genuity Corp. to act as lead underwriter, on its own behalf and, if applicable, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase for their own account or arrange for substituted purchasers to purchase on a bought deal private placement basis 15 million units of the company, at a price of 40 cents per unit, for gross proceeds of $6-million.

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Serengeti talks East Niv, Top Cat fieldwork results

Serengeti Resources Inc. has released preliminary field results from mapping and sampling programs recently completed at the East Niv and Top Cat projects.

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