https://www.miningweekly.com

Matador raises funds for Cape Ray buy

21st June 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Matador Mining has completed a A$5-million capital raise to complete the acquisition of the Cape Ray gold project, in Canada.

Matador in April acquired the project from TSX-V-listed Benton for a total cash consideration of A$3.5-million and eight-million fully paid ordinary shares, as well as 833 333 options.

Benton was also granted a 1% net smelter royalty on future production.

The project is estimated to contain more than 500 000 oz of gold within its 100 km2 of secured tenure.

Matador on Thursday said that the company had placed some 20-million ordinary shares to professional and sophisticated investors, at an issue price of 25c each, to raise the capital.

“We are delighted to have finalised the equity component of the Cape Ray acquisition. The funds raised will now allow the company to progress towards formal completion of the acquisition,” said Matador executive director Scott Patrizi.

“In addition, the funds raised will ensure that Matador is now fully funded for its maiden exploration programme at Cape Ray, with early works currently under way.”

Edited by Creamer Media Reporter

Comments

Latest News

Amplats CEO Craig Miller
Amplats posts lower first-quarter output
Updated 7 hours ago By: Marleny Arnoldi

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.164 0.206s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: