Fremont Gold (FRE.V) appears to be very encouraged by the recent exploration results on its flagship Gold Bar and Gold Canyon properties, which are bordering McEwen Mining’s (MUX, MUX.TO) Gold Bar development project in Nevada. Fremont intersected gold in its summer drill program, and we are excited about the newly discovered anomaly just west of the historic deposit. You can re-read our view on the anomaly here, and why we are happy to see these targets will be drilled in 2019.
To fund the drill program, Fremont is raising approximately C$1M by issuing 7.2 million units. Each unit will be priced at C$0.14 and each unit will consist of a share and ½ of a warrant with every full warrant allowing the warrant holder to purchase an additional share at C$0.20 for a period of 2 years. The warrants do contain an accelerator, and the expiration date will be brought forward if the stock trades over C$0.30 for a period of at least 15 consecutive trading days.