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An update from Lahontan Gold Corp. ( (TSE:LG) ) is now available.
Lahontan Gold Corp. plans to raise up to C$10 million through a non-brokered private placement of units priced at C$0.41, each comprising one common share and a half warrant exercisable at C$0.60, with an acceleration feature tied to share price performance. The company intends to deploy the proceeds toward general working capital and advancing exploration and development at its Santa Fe Mine and West Santa Fe projects in Nevada, potentially accelerating its path toward production and reinforcing its position in the regional gold-silver exploration space.
The offering remains subject to customary regulatory approvals, including from the TSX Venture Exchange, and issued securities will generally carry a four-month-plus-one-day hold period under applicable Canadian securities rules. By shoring up its balance sheet and funding ongoing technical work, Lahontan aims to update the Santa Fe preliminary economic assessment and drill test satellite targets, developments that could be material for future project economics and overall asset value for stakeholders.
More about Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company focused on gold and silver projects in Nevada’s Walker Lane district. Its flagship 28.3 km2 Santa Fe Mine project has a history of open-pit, heap-leach production and currently hosts significant pit-constrained Indicated and Inferred mineral resources outlined under NI 43-101 standards.
Average Trading Volume: 1,930,485
Technical Sentiment Signal: Buy
Current Market Cap: C$175M
See more insights into LG stock on TipRanks’ Stock Analysis page.