January 2024 Financings - Image of Teck Resources Mine

Top 10 Mining Financings January 2024

In January 2024, Costmine Intelligence tracked 87 closed mining financings that amounted to $197,013,553 (USD), an 86-per-cent decrease over closed financings in December 2023.

Here is a look at 10 of the largest financings for the month. 

#1) Canada Nickel Company Inc. (TSXV: CNC) – The proceeds from this offering go towards the development of the company’s Crawford Nickel project and other projects in the Timmins nickel district on Ontario, Canada. Agnico Eagle Mines Ltd. (TSX: AEM) participated in the financing and as a result now holds ~12% of the company’s issued and outstanding common shares on a non-diluted basis.

#2) Evolution Mining Ltd. (ASX: EVN) –  Funds raised will assist with integration costs related to the company’s acquisition of an 80% interest in the Northparkes Copper-Gold Mine from CMOC Group Ltd. (HKG: 3993) and general working capital.

#3) AMEX Exploration Inc. (TSXV: AMX) – The proceeds from the offering will be used to advance the company’s Perron gold project in Quebec. Eldorado Gold Corp. (TSX: ELD) participated in the financing and acquired 11,344,130 shares of the company which represents a ~9.9-per-cent ownership interest.

#4) FPX Nickel Corp. (TSXV: FPX) – The company intends to use proceeds for exploration and development activities at its Baptiste nickel project in British Columbia, the continuance of environmental baseline activities, feasibility study readiness activities, and general corporate and administrative purposes.

#5) 5E Advanced Materials Inc. (ASX: 5EA) – Proceeds of the financing will continue initial production of boric acid and lithium carbonate and to complete the final stages of the processing plant at the company’s Fort Cady boron-lithium property in Southern California.

#6) Atacama Copper Corp. (TSXV: ACOP) – The proceeds will be used to advance exploration programs across the company’s portfolio, with a focus on its Cristina and Yecora properties in Mexico, and for general corporate purposes.

#7) Osino Resources Corp. (TSXV: OSI) –  Osino completed the second and final tranche of a private placement with Dundee Precious Metals Inc. (TSX:DPM) as part of Dundee’s acquisition of the company. The transaction adds Osino’s Twin Hills open pit gold project and its exploration prospects in Namibia to Dundee’s existing portfolio. 

#8) First Phosphate Corp. (CSE: PHOS) – The company closed the third tranche of a non-brokered private placement. The company holds +1,500 square kilometres of land claims in the Saguenay-Lac-St-Jean region of Quebec, Canada. 

#9) Nuclear Fuels Inc. (CSE: NF) – The company intends to use the net proceeds from the offering for exploration and development expenses for the Kaycee and Moonshine uranium projects in Wyoming and Arizona, other projects and for general working capital purposes.

#10) Intrepid Metals Corp. (TSXV: INTR) – The proceeds of the second tranche of the offering will be used for exploration and development on the company’s properties, investor relations activities and general working capital. The company acquired and has agreements to acquire several projects, including the Corral copper project and the Tombstone South project in Arizona, USA.

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