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An announcement from Denarius Metals Corp ( (TSE:DMET) ) is now available.
Denarius Metals Corp. has decided to terminate its previously announced brokered private placement due to volatile market conditions and will instead proceed with a non-brokered private placement to raise up to CA$6.5 million. The funds will be used to advance projects in Spain, including the Lomero and Toral Projects, and for corporate costs. Insiders have shown interest in contributing CA$1.5 million, requiring shareholder approval due to the significant percentage of shares involved. The offering is subject to regulatory approvals and will not be available in the U.S. market.
More about Denarius Metals Corp
Denarius Metals is a Canadian junior company focused on the acquisition, exploration, development, and operation of polymetallic mining projects in high-grade districts. The company is set to commence production at its Zancudo Project in Colombia in early 2025 and plans to start operations at the Aguablanca Project in Spain within the next year. Denarius Metals holds a 100% interest in the Lomero Project, located in the copper-rich Iberian Pyrite Belt in Spain, and a 21% interest in Rio Narcea Recursos, S.L., which operates a processing plant and has rights to the Aguablanca nickel-copper mine.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$36.29M
For a thorough assessment of DMET stock, go to TipRanks’ Stock Analysis page.