Ross Beaty invests in ZincX
Exploration company ZincX Resources on Thursday announced that it had closed a private placement of ten-million shares with mining entrepreneur Ross Beaty, raising gross proceeds of C$1-million.
“We are pleased to welcome well-known mining entrepreneur Ross Beaty as a new significant shareholder of the company,” comments ZincX CEO Peeyush Varshney.
The company plans to use the proceeds from the private placement to continue to advance the Akie and Kechika regional projects, in British Columbia.
ZincX in 2018 completed a positive preliminary economic assessment for the Akie project. The study envisages a conventional underground mine and concentrator operation with an average production rate of 4 000 t/d. The mine will have an 18-year life with potential to extend the life-of-mine through resource expansion at depth.
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