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The latest update is out from Happy Creek Minerals ( (TSE:FOXT) ).
Fox Tungsten Ltd. has arranged a bought deal private placement led by Stifel Nicolaus Canada and PowerOne Capital Markets to raise about C$11.1 million through a mix of hard dollar units and charity flow-through units. Each unit includes shares and half-warrants exercisable over 36 months, with an additional underwriters’ option that could lift total proceeds by up to C$1.65 million, subject to regulatory approvals.
Proceeds from the hard dollar units will fund exploration at the Fox Tungsten project and other properties, as well as general corporate purposes, while charity flow-through proceeds will be directed to tax-advantaged Canadian exploration expenditures on the British Columbia project. The financing underpins an expanded 2026 exploration program intended to grow the high-grade tungsten resource and advance it toward a preliminary economic assessment, reinforcing the company’s positioning in critical minerals amid concerns over Western tungsten supply.
More about Happy Creek Minerals
Fox Tungsten Ltd. is a Canadian mineral exploration company focused on critical minerals, notably tungsten, with its flagship Fox Tungsten project in central British Columbia near existing infrastructure. The project is described as one of the highest-grade tungsten resources globally, targeting the West’s tungsten supply deficit, while the company also holds additional molybdenum, copper, gold and silver exploration assets in the province.
Its portfolio includes the Silverboss molybdenum-copper-gold-silver project and the adjacent Hen-Art-DL gold and silver project, both located near Glencore’s former Boss Mountain molybdenum mine. Fox Tungsten also retains an equity position in Metal Energy Corp. following the sale of its Highland Valley Copper Project, reflecting a diversified exposure to base and precious metals exploration in British Columbia.
Average Trading Volume: 294,993
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$39.9M
See more data about FOXT stock on TipRanks’ Stock Analysis page.