https://www.miningweekly.com

Yamana invests C$20.6m in Ascot

13th April 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Precious metals miner Yamana Gold has invested C$20.64-million in explorer and developer Ascot Resources, which is restarting the past-producing Premier gold mine, in British Columbia’s Golden Triangle.

Ascot reported on Monday that it had entered into an agreement with Stifel for a private placement of 24-million shares at C$0.86 a share. Under the underwriting agreement, Yamana has agreed to be the substitute purchaser, the result of which is that it would buy all the shares under the offering.

“The bought deal private placement and investment by Yamana arose subsequent to the bought deal financing which closed last Friday. This additional funding will facilitate the company’s ability to accelerate its surface and underground exploration during construction. We are delighted with having Yamana as a shareholder,” said president and CEO Derek White.

On closing of the offering, Yamana will own about 6.4% of Ascot’s basic shares.

On Friday, Ascot closed a C$61-million bought deal, having upsized it from C$55-million.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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