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Exploration|Gold|Mining|PROJECT|Environmental
Exploration|Gold|Mining|PROJECT|Environmental
exploration|gold|mining|project|environmental

Matador raises funds for Canadian exploration

17th February 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Matador Mining has raised more than A$5-million in a share placement to institutional, professional and sophisticated investors, to complete a scoping study on the Cape Ray gold project, in Canada.

The placement consisted of more than 24.1-million shares, at a price of 20c each and was conducted under Matador’s existing placement capacity.

The issue price represented a 16.7% discount to Matador’s closing price on January 31, and a 17.4% discount to its 15-day volume weighted average share price.

Matador on Monday said that the funds would be used to complete a study to assess gold production at the Cape Ray project, and to restart exploration activities while also continuing with various environmental and stakeholder studies to support the environmental impact statement.

Edited by Creamer Media Reporter

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