https://www.miningweekly.com

American West Metals raises exploration cash

1st November 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior American West Metals has received firm commitments to raise A$3.4-million in a share placement to institutional, sophisticated and professional investors, to fund exploration work at its copper and zinc projects in the US and Canada.

American West Metals will issue more than 27.39-million shares, at a price of 12.5c each under the company’s existing placement capacity, with subscribers receiving one free-attaching option for every two shares subscribed for, with an exercise price of 20c each and an expiry in September 2024.

“It’s fantastic to receive such strong support for the placement, with interest well exceeding our modest placement capacity. The funding enables us to not only deliver a Joint Ore Reserves Committee-compliant resource at West Desert, which we expect to announce very soon, but also continue exploration activities across our portfolio of high-quality copper and zinc projects,” said MD Dave O’Neill.

“So far this year, the results from our exploration work have been exceptional, with drilling intercepts from the Storm project being among the best results reported to ASX. We are looking forward to commencing the first drilling programme at our Copper Warrior project, and we hope to mirror the success of our neighbours in the Paradox basin, such as the Lisbon Valley copper mine, situated approximately 15 km to the southeast of the project.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.042 0.861s - 110pq - 2rq
Subscribe Now