CAD 17 million for Mawson Resources!
Mawson Resources Limited (ISIN: CA57776G1063 / TSX: MAW) has established itself as a leading Nordic exploration company focused on its gold-cobalt ‘Rajapalot’ project in Finland. But also through the recent acquisition in the ‘Goldfields’ region in Victoria, Australia, the company has enriched its portfolio with high quality gold exploration assets. Mawson is thus running two projects in coveted and legally sound countries.
To further develop these promising assets, the company closed with the participation of Red Cloud Securities Inc., Sprott Personal-Financial.com Partners LP, Canaccord Genuity Corp. and Eight Personal-Financial.com funded Mawson with $ 17 million in cash.
In total, the aforementioned banks placed 48,572,000 units with investors at a price of $ 0.35 per unit. Each unit consists of one common share of the company and half a common share purchase option (‘warrant’). Each entire ‘warrant’ entitles the holder to purchase another common share at a price of CAD 0.45 until May 20, 2022. The lion’s share of the net proceeds is to be used to further explore the company’s own projects and to use the rest as working capital.
A very pleased chairman and CEO, Michael Hudson, said:
“Mawson has never been better positioned than it is now! Our company has solid exploration assets in two of the safest and leading jurisdictions in the world, we already have important permits. Now, at the latest, we also have the financial means to develop our projects quickly. ”
They are proud that the CAD17 million round of financing was so well received and significantly oversubscribed. The intention is to aggressively expand the growing gold resource base in Finland within the next two years and to immediately begin exploring the high-level Fosterville-type projects in the Victoria Goldfields region.
As the exploration progresses, exciting times for Mawson shareholders begin, as new top results from Australia and Finland can be reported almost every day in the near future.
At Vizsla Resources, the first drill is turning again!
It’s finally here again, and at Vizsla Resources Corp. (ISIN: CA92857Y1060 / TSX-V: VZLA) can loosen the drill again due to the loosening regarding the COVID-19 pandemic! The company said it had already started to continue the 14,500m drilling program on its Mexican ‘Panuco’ project. Thus, at least we assume that an almost constant news flow of the company should start in the near future and that the company will continue to be the focus of investors.
Vizsla to its ‘Panuco’ project, which is located on a newly consolidated 9,386.5 hectare district that already has important permits, such as that to operate a 500 ton per day mill, and which also has excellent infrastructure which includes a 5 km tunnel, drop-off facilities, roads and electricity, makes investors’ hearts beat faster. The project, located in Panuco, in the south of Sinaloa in Mexico, is not far from the city of Mazatlán.
CEO Michael Konnert said that they were very pleased with the “restart” of the drilling work and that they would start further exploring the high-grade results of the cord samples from ‘Cordon del Oro’ and ‘Napoleon’. But also extending the exploration licenses until initially until 2022 gives the company enough time to use the high-level goals of the as yet unexplored areas of the district on the ‘Panuco’ project.
Since the COVID-19 pandemic has not yet ended, the company is working very closely with the Ministry of Health and is implementing measures that go well beyond the legal requirements.
Even if the drilling will initially only be resumed with one drilling rig, which will be successively followed in the coming month – depending on the COVID 19 conditions – this is a milestone for the company. Vizsla has set itself ambitious goals with 10,861 meters of drilling still open this year to test five of the original twenty identified targets.
Good for the shareholders, since they should now be provided with a constant flow of news, which should be reflected in rising drill prices if further drilling hits occur.
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