Minaurum Gold (MGG.V) has closed an additional private placement, raising C$562,000 by issuing 5.62 million units at C$0.10 per unit. Each unit consists of one common share and a full warrant with a strike price of C$0.10 valid for two years. Lowell Copper (JDL.V), Minaurum’s joint venture partner on the Santa Marta VMS project has subscribed for 620,000 units. We are anxiously awaiting the Santa Marta drill permits, as all key elements for a new discovery are in place.
Disclosure: The author holds a long position in Minaurum Gold. Please see our disclaimer for current positions.