Sign up USA
Proactive Investors - Run By Investors For Investors

Balmoral Resources unveils plans to raise $3mln to continue exploration in Quebec

The group has entered an agreement with PI Financial Corp, which will act as lead agent
Balmoral Resources unveils plans to raise $3mln to continue exploration in Quebec
Balmoral announced plans to raise around C$3mln

Quebec-focused Balmoral Resources Ltd (TSE:BAR, OTCQX: BALMF) announced plans to raise C$3mln through a private placing to continue exploring its Detour Gold trend project and other properties.

It has entered an agreement with PI Financial Corp, which will act as lead agent for a syndicate, and will offer 4.225mln flow-through shares  at 71 cents each for total gross proceeds of $2.999mln

Balmoral shares are currently changing hands in Toronto for 64 Canadian cents.

At the end of last month, the group said that drilling had started again on its Detour Gold trend project.

The firm plans a minimum of 20,000 metres of drilling during the summer/fall program, bringing the 2017 drill program to 35,000 metres, it said.

The work will continue to focus on the expansion and delineation of the Bug Lake gold deposits and further evaluation of several recent near-surface gold discoveries within the broader Martiniere gold system.

Martiniere is just one of several large, highly prospective properties comprising the company's wholly owned, 1,000 sq km Detour gold trend project.

View full BAR profile View Profile

Balmoral Resources Timeline

Related Articles

gold
April 03 2018
Stratex is now under the tutelage of a new, experienced chief executive and on the lookout for opportunities
Picture of map of projects
May 08 2018
The company will be turning a profit as plenty of other players in the sector are a long way from generating first revenues.
1507640356_Copper-tubing.jpg
October 10 2017
Tethyan Resources is sitting on promising mineralisation in a prime location in Europe

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use