trending Market Intelligence /marketintelligence/en/news-insights/trending/EwhIVfYMtNxd0daV_HQ7bA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

TMAC Resources closes C$92M bought-deal financing


Top electric vehicle markets dominate lithium-ion battery capacity growth


Message in a (Word)Cloud


Essential Metals & Mining Insights - January 2021

Industry Top Trends 2021: Metals and Mining

TMAC Resources closes C$92M bought-deal financing

TMAC ResourcesInc. and Resource Capital Fund VI LP have closed a underwritten bought-deal offering, including the latter's overallotment option,to raise C$92 million.

According to a July 19 release, TMAC received C$60 millionwhile Resource Capital Fund bagged C$32 million from the overall proceeds.

Net proceeds will go toward furthering development of TMAC'sHope Bay goldproject in Nunavut, Canada, for exploration and development of the BTD Zone atthe Doris mine within the project, and for general corporate purposes.

In addition, NewmontMining Corp. acquired 1,159,000 common shares of TMAC under theoffering.

RCF and Newmont now hold 30.9% and 29.2% nondiluted stakesin TMAC, respectively.