Mining industry investors are still offering cash, perhaps at a slower pace than the industry would like, to advanced projects around the world. Here are four financings that add up to roughly $145 million.
Dia Bras Exploration of Toronto announced the closing of a C$45 million private placement. The company issued approximately 15 million shares, each priced at C$3.00. The company plans to use the proceeds to accelerate exploration and mine development at the Cusi silver mine in Mexico; double production at the Bolivar copper and silver mine in Mexico, by accelerating mine development and increasing the Piedras Verdes mill capacity from 1,000 to 2,000 t/d; and explore high priority regional targets such as La Verde and San Patricio in Mexico and Ipillo in Peru. (DiaBras.com).
Mawson West of Toronto and Perth, Australia, has arranged a credit approved debt financing commitment worth US$30 million from RMB Resources of Sydney, Australia. The money will be used in part to finance development of the cut-back of the Kikulushi copper-silver mine, the development of the Kapulo open pit copper project and, and for related corporate purposes. Both projects are located in the Democratic Republic of Congo. (MawsonWest.com)
Quebec City-based Robex Resources announced the signing of a letter of intent with a group of Middle East investors to conclude a financing for as much as US$45 million. The funding would be in the form of a loan, bearing interest at 9% compounded annually, and repayable in one installment at the end of a five-year term. The money will be applied to the development of the Nampala gold project in Mali. (RobexGold.com)
Woulfe Mining of Vancouver has arranged to issue convertible unsecured senior debentures that will raise as much as C$20 million. Each C$1,000 debenture may be converted into common shares, and also includes share purchase warrants. Woulfe will use the net proceeds to order long lead time capital equipment for its Sangdong tungsten project in South Korea and for other corporate purposes. (WoulfeMining.com)
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