◆ Metallic Minerals Corp. (TSXV: MMG) (“MMG,” or “Company”) has
achieved multiple exploration milestones at its La Plata Copper Project and
Keno Silver Project.
◆ Newmont top-up financing closed: We are encouraged to see additional
share purchases from Newmont Corp. Newmont exercised its ‘top-up right'
to buy additional shares of MMG to maintain its 9.5% stake in the company.
Newmont purchased 577,776 shares at $0.36 per share, higher than the
company's current market price. We see this as a vote of confidence by a
tier-1 miner in MMG's resource potential.
◆ La Plata resource update will likely be by Q4 2024: MMG noted good
progress on its La Plata project. Resource modelling on the Allard deposit at
La Plata is underway to integrate the drilling results into an updated resource
estimate, which is likely to be completed by Q4 2024. The update will add
gold, platinum, and palladium to the existing copper and silver resources.
29 Oct 2024
Metallic Minerals Corp. (TSXV: MMG) La Plata Resource update in Q4; Newmont top-up financing closed
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Metallic Minerals Corp. (TSXV: MMG) La Plata Resource update in Q4; Newmont top-up financing closed
Metallic Minerals Corp. (MMG:TSX) | 0 0 0.0%
- Published:
29 Oct 2024 -
Author:
Couloir Research Team -
Pages:
12 -
◆ Metallic Minerals Corp. (TSXV: MMG) (“MMG,” or “Company”) has
achieved multiple exploration milestones at its La Plata Copper Project and
Keno Silver Project.
◆ Newmont top-up financing closed: We are encouraged to see additional
share purchases from Newmont Corp. Newmont exercised its ‘top-up right'
to buy additional shares of MMG to maintain its 9.5% stake in the company.
Newmont purchased 577,776 shares at $0.36 per share, higher than the
company's current market price. We see this as a vote of confidence by a
tier-1 miner in MMG's resource potential.
◆ La Plata resource update will likely be by Q4 2024: MMG noted good
progress on its La Plata project. Resource modelling on the Allard deposit at
La Plata is underway to integrate the drilling results into an updated resource
estimate, which is likely to be completed by Q4 2024. The update will add
gold, platinum, and palladium to the existing copper and silver resources.