In November 2023, there were 54 mining financings closed that amounted to USD $361,861,258 according to Costmine Intelligence data.
#1) Ero Copper Corp. (TSX: ERO) – The net proceeds of the financing will be used to advance growth initiatives at the company’s Tucumã Project and Caraiba Operations, advance regional exploration in Brazil, and for working capital and other general corporate purposes
#2) Delta Lithium Ltd. (ASX: DLI) – Proceeds from the offering will help Delta accelerate drilling and development at both its Mt Ida and Yinnetharra Lithium Projects, with a number of important milestones to be delivered at both projects over the next 12-15 months. Mineral Resources (ASX: MIN) and Gina Rinehart’s Hankcock Prospecting participated in the offering.
#3) Marathon Gold Corp. (TSX: MOZ) – Calibre Mining Corp. and Marathon Gold Corp. have closed the previously announced $40-million (CDN) financing of Marathon. Pursuant to the private placement. Calibre’s acquisition of the Marathon shares in the private placement is for investment purposes only.
#4) and #7) Bowen Coking Coal Ltd. (ASX: BCB) – Funds raised from the financing will provide Bowen with balance sheet flexibility to fund the ramp-up of mining at its Ellensfield South Pit until it achieves steady-state production in the second half of 2024 and completion of boxcut activities, pre-payments, guarantees and general working capital requirements.
#5) Hercules Silver Corp. (TSX-V: BIG) – Hercules Silver completed the previously announced non-brokered private placement, resulting in Barrick Gold (TSX: ABX). The proceeds from the placement will be used by Hercules Silver to explore the company’s Hercules project located in western Idaho.
#6) West Red Lake Gold Mines Ltd. (TSX-V: WRLG) The net proceeds received from the offering will be used to advance the company’s mineral properties in Ontario, as well as for working capital and general corporate purposes.
#8) Cleantech Lithium Plc (LON: CTL) – The funds will be focused on the development of the Laguna Verde project and provide flexibility for additional drilling at Francisco Basin. A drilling campaign will start imminently to upgrade the lithium resource estimate, with more resource being categorised as Measured and Indicated. Funds will also go towards the commissioning and running of the Direct Lithium Extraction (DLE) Pilot Plant and production of battery grade lithium carbonate.
#9) Nevada Canyon Gold Corp. (OTC-US: NGLD) – The proceeds from the Offering will be used for future acquisitions, fund work on the Company’s mineral properties and for general working capital purposes. The company plans to purchase targeted royalties, stream financings and exploration properties.
#10) Aeris Resources Ltd. (ASX: AIS) – The company plans to use the proceeds from the financings for general working capital.
