Orovero Resources (OVR.V) has announced it closed a first tranche of its private placement wherein it raised almost C$517,000. A second and final tranche is expected to close shortly as Orovero received an extension from the TSX Venture exchange to close the remainder of the placement by next Monday.
Orovero plans to use the proceeds of the financing to start building out its toll milling business plan. We will release a Q&A report with CEO Len Clough shortly, wherein he will explain the company’s business plan and objectives for 2014.
Disclosure: The author holds a long position in Orovero Resources. Orovero is a sponsor of the website. Please see our disclaimer for current positions.