https://www.engineeringnews.co.za

Auteco shakes tin for Canadian gold

6th July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior minerals explorer Auteco Minerals is hoping to raise A$30.4-million through a fully underwritten share placement.

The ASX-listed company on Monday announced that it would issue 225-million new shares, representing some 16.8% of the company’s existing issued capital, at a price of 13.5c each.

The new shares will be placed under the company’s existing placement capacity, with the offer price representing a 10% discount to Auteco’s last closing price on July 3.

“Proceeds of the placement will strengthen the company’s balance sheet and will allow Auteco to accelerate the drilling programme at Pickle Crow, focusing on numerous high-grade targets that have been identified ready for drilling," said executive chairperson Ray Shorrocks.

“Our current drilling programme will be the first systematic exploration programme at Pickle Crow in 50 years, and we are very excited by its immense potential.”

Auteco recently announced a maiden Joint Ore Reserves Committee-compliant resource of 830 000 oz gold at the Pickle Crow project, in Ontario. A second resource update is expected later this year.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 0.96s - 140pq - 2rq
Subscribe Now