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The latest update is out from AMV Capital Corp. ( (TSE:ABA) ).
Abasca Resources has hired High Grade Mining Consulting Ltd., led by veteran mining engineer Gary Haywood, to provide strategic technical support for advancing its 100%-owned Loki Flake Graphite Deposit in northern Saskatchewan. Haywood’s extensive operational and development experience in the region is expected to help de-risk the project and support preparation of a Preliminary Economic Assessment, reinforcing Abasca’s push toward potential future production.
The company also launched a non-brokered private placement of up to $3.0 million through the sale of up to 12 million flow-through shares at $0.25, with proceeds earmarked for exploration at the Loki Deposit. The financing, which is subject to exchange approval and may include finder’s fees, is structured to fund Canadian exploration expenses and strengthen Abasca’s ability to advance its graphite project within the broader Key Lake South portfolio.
More about AMV Capital Corp.
Abasca Resources Inc. is a mineral exploration company focused on acquiring and evaluating mineral properties in northern Saskatchewan’s Athabasca Basin. Its flagship Key Lake South Project spans 23,977 hectares near the former Key Lake uranium mine and mill, hosting over 50 km of prospective conductors for uranium and the Loki Flake Graphite Deposit, with an inferred resource of 11.31 million tonnes grading 7.65% Cg.
Average Trading Volume: 44,555
Technical Sentiment Signal: Sell
Current Market Cap: C$9.46M
See more insights into ABA stock on TipRanks’ Stock Analysis page.