TORONTO (miningweekly.com) – Premier Gold Mines said on Monday it aimed to raise C$51.8-million through bought deal financing, the proceeds of which would go toward exploration and development.

The company, which owns projects in Ontario and Nevada, hired a group of underwriters led by RBC Captial Markets, which would buy nine-million shares at C$5.75 each.

The underwriters have the option to buy up to an extra 15% of shares.

In January, TSX-listed Premier agreed with gold giant Newmont Mining to merge the Saddle and Rain projects in Nevada, with Premier getting a 55% stake in the venture.

Earlier on Monday, Premier announced it had agreed to buy two additional mining claims in north Ontario’s Red Lake district.

The company’s stock edged 1.5% higher to close at C$6.00.
 

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