tiprankstipranks
Trending News
More News >

ExGen Resources Announces Funding Update for Empire Mine Project

Story Highlights
  • ExGen Resources updates on Empire Mine Project with Phoenix Copper’s $75M bond deal.
  • Funding will complete Empire mine construction and start underground drilling program.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
ExGen Resources Announces Funding Update for Empire Mine Project

Don’t Miss TipRanks’ Half-Year Sale

ExGen Resources ( (TSE:EXG) ) has issued an update.

ExGen Resources Inc. announced an update on the Empire Mine Project in Idaho, where it holds a 20% stake through Konnex Resources. Phoenix Copper Limited, which owns the remaining 80%, has signed a Letter of Intent with a US-based investor for a $75 million bond placement to fund the project’s development. The funding will enable the completion of the Empire open-pit mine and initiate an underground drilling program. The agreement includes the issuance of convertible preference shares and a board seat for the investor, although finalization is pending due diligence and legal documentation.

More about ExGen Resources

ExGen Resources Inc. is a project accelerator focused on funding exploration and development through joint ventures and partnership agreements. This strategy minimizes technical and financial risks while allowing for potential discoveries and cash flow. ExGen aims to build a diverse portfolio across various exploration stages and commodity groups.

Average Trading Volume: 27,704

Technical Sentiment Signal: Sell

Current Market Cap: C$5.86M

For detailed information about EXG stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1