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In This List

IDM Mining increases private placement to C$10M

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


IDM Mining increases private placement to C$10M

IDM Mining Ltd.said April 13 that it is planning to increase its private placement from to C$10 million, byissuing up to 66,666,667 non-flow-through units at 9 cents each and 36,363,636 flow-throughunits at 11 cents each.

Non-flow-through units comprise one common share and 0.5 of ashare purchase warrant, with one warrant allowing the holder to acquire one commonshare for 15 cents each within a two-year window. Flow-through units comprise oneflow-through common share and 0.5 of a warrant.

The private placement is being underwritten by agents co-ledby Haywood Securities Inc., Red Cloud Klondike Strike Inc. and Medalist CapitalLtd. The agents will have the option to sell up to an additional 15 million non-flow-throughunits.

IDM will put the proceeds toward a 5,000-meter underground coredrilling program to expand and upgrade the gold resource at its project in BritishColumbia, as well as to advance permitting, field studies and environmental assessmentof the project. The company aims to submit a project application report to the BCEnvironmental Assessment Office and the Canadian Environmental Assessment Agencyin the fourth quarter.

The company will also use the funds to complete engineering,field studies and a feasibility study for the project, as well as for general workingcapital.

IDM aims to make a final investment decision on the project nextyear.