https://www.miningweekly.com

Metanor gains Kirkland Lake as strategic investor as it closes $8.85m placement

24th April 2017

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Project developer Metanor Resources has gained midtier gold miner Kirkland Lake Gold as a strategic investor, the company disclosed on Monday as it announced the closing of a private placement to raise funds for its Bachelor and Barry projects, in Quebec.

Kirkland Lake acquired 10 357 143 units of Metanor to the value of $7.25-million, which the miner says is for investment purposes, and it now owns or controls about 13.7% of the junior firm.

The investment forms part of a larger $8.85-million offering in which Wexford Capital also participated. Wexford owns or controls 14.2% of the common shares of Metanor.

“These additional funds, coming from established partners having extensive management and operational expertise, will enable us to further develop our main assets: the Bachelor and Barry projects, while increasing the drill campaigns in the Urban-Barry area," says president and COO Pascal Hamelin.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT 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 

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:0.048 0.752s - 110pq - 2rq
Subscribe Now