Australia  

Trusted News Discovery Since 2008
One News Page
One News Page Australia > Business News > Corazon Mining secures $1.1 million in placement to step-up exploration at Lynn Lake in Canada

Corazon Mining secures $1.1 million in placement to step-up exploration at Lynn Lake in Canada

Proactive Investors Thursday, 13 February 2020 ()
Corazon Mining Ltd (ASX:CZN) has received firm commitments for shares with a total value of up to $1.1 million through a placement to sophisticated and professional investors. The company will issue up to approximately 315.8 million shares at an issue price of 0.35 cents per share. Funds raised will be used to accelerate exploration activities at the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada. Corazon chairman Terry Streeter said: “We are pleased with the support of investors for this placement and our plans to continue to advance the project.” The new shares are intended to be issued on Wednesday, February 19, 2020, and include the issue of 107,036,473 shares under ASX Listing Rule 7.1 and 208,831,381 shares under ASX Listing Rule 7.1A. Placement participants will also be issued one attaching option for every one share subscribed, exercisable at 0.7 cents each and with an expiry date of July 10, 2022 – subject to shareholder approval at a general meeting in late March. Lynn Lake exploration The results of drilling in December showed results at A ore body of 37.8 metres at 1.68% nickel, 0.67% copper, 0.050% cobalt from 10 metres including, 22.6 metres at 2.30% nickel, 0.82% copper, 0.068% cobalt from 24.4 metres. Results at E ore body included 4.5 metres at 1.17% nickel, 0.22% copper, 0.029% cobalt from 25 metres and 4.1 metres at 2.09% nickel, 0.57% copper, 0.073% cobalt from 26.9 metres. Streeter said: “The company’s renewed focus on the Lynn Lake project has continued to reap benefits, with our recent targeted drilling programs delivering multiple high-grade nickel sulphide intersections, which have further added to the expansion potential of the already substantial resource base delineated by Corazon. “The funds raised under the placement will be utilised to undertake the next phase of drilling, and the drill rig is on-site, and drilling is scheduled to commence this month.”
0
shares
ShareTweetSavePostSend
 
Credit: Jukin Media - Published < > Embed
News video: Kid Swings From Rope And Flops In The Lake

Kid Swings From Rope And Flops In The Lake 00:05

This kid swung from a rope hanging on a tree, wanting to jump into the lake. But unfortunately, he let go of the rope too soon and flopped in the water at the edge of the lake.

Recent related videos from verified sources

Stunning Caribbean-esque lake is actually located in northern Canada [Video]Stunning Caribbean-esque lake is actually located in northern Canada

This stunning Caribbean-esque Boya Lake is actually located in northern Canada. The drone footage filmed in August 2019 shows the spectacular scenery similar to what you would find in the Caribbean..

Credit: Newsflare     Duration: 01:23Published

Disney+ Now at Almost 29 Million Paid Users in Nearly 3 Months [Video]Disney+ Now at Almost 29 Million Paid Users in Nearly 3 Months

Disney+ Now at Almost 29 Million Paid Users in Nearly 3 Months Through February's first week, CEO Bob Iger says 28.6 million paid subscriptions have been recorded. Disney CEO Bob Iger, via investors..

Credit: Wibbitz Top Stories     Duration: 01:20Published


Recent related news from verified sources

Corazon Mining in trading halt with capital raising announcement pending

Corazon Mining Ltd (ASX:CZN) has been granted a trading halt by the ASX with a capital raising announcement pending. The halt will remain in place until that...
Proactive Investors

Kingwest Resources secures $3.5 million to drill for more gold at Menzies project

Kingwest Resources Ltd (ASX:KWR) has received firm commitments from professional and sophisticated investors to raise $3.5 million via a placement of shares at...
Proactive Investors

You Might Like


Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.