Josemaria announces C$41m financing
Toronto-listed Josemaria Resources, part of the Lundin Group, on Thursday announced financing initiatives totalling C$41-million to continue to advance its namesake copper/gold project in San Juan, Argentina.
The company has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets for bought-deal financing of about C$10-million, at C$0.69 a share.
Josemaria also announced a concurrent private placement of the Swedish krona equivalent of about C$30.5-million on the same terms as the public offering from a Lundin Family-related trust, and to certain other investors on a private placement basis.
A recently published feasibility study demonstrates a simple and conventional openpit copper/gold project with robust economics and a rapid payback period.
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