https://www.miningweekly.com
Gold|Mining|PROJECT|Projects
Gold|Mining|PROJECT|Projects
gold|mining|project|projects

First Mining raises cash for Canada gold projects

20th September 2024

By: Creamer Media Reporter

     

Font size: - +

Gold developer First Mining has announced a C$7-million bought-deal public offering and nonbrokered private placement to raise funds to advance its Springpole and Duparquet projects.

Springpole, in north-western Ontario, is in the feasibility study stage and permitting activities are ongoing, while Duparquet in Quebec, is a preliminary economic assessment-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region.  

First Mining has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities and Haywood Securities under which the underwriters have agreed to buy on a bought deal basis, 51.85-million units of the company at $0.135 each for proceeds of about C$7-million.

In addition, the company plans to complete a non-brokered private placement of units for gross proceeds of up to C$5-million.

The bought-deal offering is expected to close on or before September 26, and the nonbrokered offering is expected to close on October 10.

Edited by Creamer Media Reporter

Comments

Latest News

Attendees at the latest AMLA workshop
Opinion: Strengthening Africa’s mining future – the crucial role of legal expertise
6th December 2024

Showroom

BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 
John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 06 December 2024
Magazine round up | 06 December 2024
6th December 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:1.302 1.331s - 165pq - 2rq
Subscribe Now