Noront closes C$1.54m private placement
TORONTO (miningweekly.com) – Noront Resources, the largest landholder in the promising mine camp known as the Ring of Fire, in Northern Ontario, has closed C$1.54-million in financing to advance the development of its Eagle's Nest project for exploration in the region and for general working capital.
The TSX-V-listed company had issued 2.9-million units at a price of $0.33 a share for gross proceeds of $959 500 and 1.53-million flow-through common shares at a price of $0.38 a flow through common share for gross proceeds of $583 300.
Each unit consisted of one common share and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of Noront for a period of two years from the date of closing at a price of $0.47 a common share.
The flow-through common shares, common shares and warrants comprising the units under the private placement and any common shares issuable upon exercise of the warrants were subject to a hold period of four months and one day, which would expire on January 5, 2016.
Noront had earlier this year scooped-up a majority land position in the district when Cliffs Natural Resources agreed to bow out of the prospective region by selling its claims for $20-million. The deal included a 100% interest in Cliffs' prized Black Thor chromite deposit and a 100% interest in the Black Label chromite deposit.
Noront was currently in the permitting phase of its flagship Eagle’s Nest nickel/copper/platinum group element mine.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
