Each month Costmine Intelligence tracks the top mining financings around the world. In July, there were 115 financings closed that amounted to USD $519,186,085. We picked out the top 5 for a snap shot of where money is going.
#1) Patriot Battery Metals (TSX-V: PMET) closed a private placement of ~USD $81.5 million, Albemarle now owns approx 4.9% of Patriot’s common shares on a fully-diluted in-the-money basis. The proceeds will be used to accelerate the exploration activites of the Corvette Lithium Project in Quebec.
#2) Core Lithium (ASX: CXO) successfully completed a USD $64 million fully underwritten institutional placement. The proceeds of this will support growth and provide financial flexibility during the ramp-up of the Finniss lithium mine in Australia.
#3) NGEx Minerals Ltd. (TSX-V: NGEX) raised USD $63.7 million through a private placement which will go towards exploration programs at the Lunahuasi copper project in Argentina, supporting continued exploration, maintenance of the Los Helados copper project in Chile, and for general corporate and working capital purposes.
#4) Adriatic Metals Plc. (ASX: ADT, LSE: ADT1, OTCQX; ) raised $32 million USD which it will use to expanded and accelerated exploration programme at its Vares zinc project in Bosnia and Herzegovina, including an additional 40,000m of drilling, and associated facilities and equipment
#5) i-80 Gold Corp. (TSX: IAU) net proceeds are intended to be used for the exploration, development and ramp-up (including working capital) of primarily the upcoming milestone payment for the Ruby Hill gold mine, Naevada, drilling expenditures for Ruby Hill, Granite Creek and Cove, permitting expenses and the further development of the Granite Creek gold project.
