Coeur Announces $25M Private Placement Of 7,704,725 Flow-Through Shares To Advance Silvertip Exploration
Portfolio Pulse from Benzinga Newsdesk
Coeur Mining, Inc. (CDE) announced a private placement of 7,704,725 flow-through shares for $25 million to fund exploration at the Silvertip Property. The proceeds will be used for Canadian Exploration Expenditures in British Columbia and Yukon. The offering, subject to a four-month hold period, aims to evaluate the silver, lead, and zinc resources. It is scheduled to close around March 8, 2024, and will not be offered in the U.S.
February 26, 2024 | 9:55 pm
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Coeur Mining, Inc. is raising $25 million through a private placement of flow-through shares to fund exploration at the Silvertip Property, focusing on silver, lead, and zinc resources.
The private placement is a positive development for Coeur Mining, Inc. as it secures funding for the exploration and evaluation of the Silvertip Property. This could potentially lead to the discovery of valuable resources, enhancing the company's asset base and future revenue potential. The focus on silver, lead, and zinc, coupled with the strategic use of flow-through shares to attract investment, indicates a proactive approach to growth. However, the actual impact on the stock price will depend on the exploration results and market conditions.
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