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Borealis Mining Company Limited ( (TSE:BOGO) ) has issued an announcement.
Borealis Mining Company Limited has raised approximately C$23 million through a bought deal private placement of more than 15.3 million common shares at C$1.50 each, with underwriters fully exercising their option. The financing, completed under a listed issuer financing exemption and still subject to final TSX Venture Exchange approval, leaves the new shares freely tradable in Canada and is earmarked to advance the company’s Nevada gold projects and bolster working capital, underscoring Borealis’s push to accelerate exploration and move its Borealis and Sandman assets further along the development curve.
The most recent analyst rating on (TSE:BOGO) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Borealis Mining Company Limited stock, see the TSE:BOGO Stock Forecast page.
More about Borealis Mining Company Limited
Borealis Mining Company Limited is a gold mining and exploration company focused on restarting production at its fully permitted Borealis Mine in western Nevada and advancing its Sandman gold project, also in Nevada. The Borealis property includes active heap leach pads, an ADR facility and full supporting infrastructure across roughly 16,300 acres of highly prospective ground for additional high-sulfidation gold mineralization, while Sandman is an advanced exploration asset with a modern NI 43-101 compliant resource.
Average Trading Volume: 557,792
Technical Sentiment Signal: Buy
Current Market Cap: C$160.7M
See more insights into BOGO stock on TipRanks’ Stock Analysis page.