Over the last month,
Orla Mining (TSX: OLA) has completed two deals that help pave the way for developing its Camino Rojo gold project in Mexico’s Zacatecas state, 50 km southeast of
Newmont’s (NYSE: NEM) Penasquito mine.
On March 26, the company unveiled a $75 million bought deal financing (36.6 million common shares at $2.05 per share). Newmont and
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) said they intend to subscribe for enough shares to maintain their current ownership positions, and Orla has also received a commitment from mine financier Pierre Lassonde.
According to the company’s most recent corporate presentation in February, Newmont holds an 18.4% stake in the company, Lassonde 12.3% and Agnico Eagle Mines 9.4%, and the three are Orla’s top shareholders.
Continue reading at The Northern Miner.
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