Trigon raises cash for Namibia copper mine restart
Canadian junior Trigon Metals plans to raise C$5-million to fund the restart of the Kombat copper mine in the Otavi mountainlands of Namibia.
The TSX-V-listed explorer and developer on Tuesday announced a nonbrokered private placement financing of up to 12.5-million units at C$0.40 each.
Each unit would comprise of a common share and one-half of a common share purchase warrant. Each warrant would entitle the holder to acquire one share at C$0.50 a share for a period of 24 months after the closing of the offering.
The company’s stock fell sharply on Tuesday, closing 13.5% down at C$0.42 a share.
Trigon’s Kombat project comprises three mining licences, which produced about 12.46-million tonnes of copper between 1962 and 2008 at a grade of 2.62%.
The company plans to restart openpit mining at Kombat in late 2021. Its initial target is to produce 4 000 t of copper in concentrate for 2022, by accessing ore from the openpit. This will increase to 14 500 t of copper in concentrate in 2024, when higher grade underground ore will be accessed.
The project has a combined openpit and underground indicated mineral resources of 12.2-million tonnes at 1.94% copper, 13.65 g/t silver and 0.70% lead.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















