By Iain Gilbert
Date: Monday 10 Sep 2018
LONDON (ShareCast) - (Sharecast News) - Orosur Mining wrapped up its non-brokered private placement of $2m with Newmont Mining on Monday, the same day it inked an exploration agreement with the American gold giant's wholly-owned subsidiary for the Anzá exploration project in Colombia.
The AIM-listed firm's exploration agreement for Anza, located across 207.5 square kilometres in Antioquia, included a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the project by spending a minimum of $30m in qualifying expenditures over twelve years.
Newmont will undertake a feasibility study of the asset and make cash payments to Orosur equaling a total of $4m over the project's first and second phases.
The NYSE-listed firm has also been granted the option to form a joint venture with Orosur following completion of the first phase.
As far as the share placement was concerned, Newmont snapped up roughly 29.2m shares in the South America-focused gold producer at a price of CAD $0.091 per share, for aggregate proceeds of $2.0m.
As of 0835 BST, Orosur shares had soared 163.89% to 4.75p.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 4.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 7.15 |
52 Week Low | 2.00 |
Volume | 585,242 |
Shares Issued | 205.58m |
Market Cap | £8.22m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
15:14 | 200,000 @ 4.00p |
15:59 | 24 @ 4.10p |
15:47 | 9,876 @ 4.05p |
15:10 | 128,000 @ 3.91p |
14:25 | 24 @ 4.10p |
You are here: research