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ExGen Resources ( (TSE:EXG) ) has issued an update.
ExGen Resources reported a corporate update related to Phoenix Copper, noting that Phoenix has suspended its executive chairman and CFO but continues work on advancing the Empire copper project in Idaho, where ExGen holds a 20% carried interest and an equity stake. ExGen said Phoenix is in talks with several industry groups that may help advance the Empire project, which could influence the future value of ExGen’s interest and its exposure to copper development in the region.
The company also granted 4,000,000 stock options to directors, officers, employees and consultants at an exercise price of $0.14, using available exemptions from formal valuation and minority approval rules for a portion issued to insiders. In addition, ExGen announced a non-brokered private placement of up to $200,000 in flow-through units priced at $0.20, with attached warrants, and plans to use the proceeds primarily to advance its Telegraph porphyry copper-gold project in the Golden Triangle, subject to TSX Venture Exchange approval.
More about ExGen Resources
ExGen Resources Inc. is a Vancouver-based project accelerator in the mining and exploration sector, focusing on copper, gold and other commodities through joint ventures and partnership agreements. The company holds interests in nine exploration projects in Canada and the U.S., four NSR royalties in British Columbia’s Golden Triangle, and a silver stream on the past-producing Andacollo gold mine in Chile.
Average Trading Volume: 146,286
Technical Sentiment Signal: Buy
Current Market Cap: C$16.37M
For detailed information about EXG stock, go to TipRanks’ Stock Analysis page.