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McFarlane Lake Mining Limited ( (TSE:MLM) ) has issued an announcement.
McFarlane Lake Mining Limited announced the partial redemption of its senior secured debentures following the sale of its West Hawk Lake and High Lake assets. The company redeemed US$2,344,469 of its US$15,000,000 debentures, representing 50% of the net cash proceeds from the asset sale. This move is part of McFarlane’s strategic financial management, potentially impacting its operational liquidity and signaling its commitment to optimizing its financial structure.
More about McFarlane Lake Mining Limited
McFarlane Lake Mining Limited is a Canadian gold exploration company focused on advancing its flagship Juby Gold Project, located near Gowganda, Ontario, within the established Abitibi Greenstone Belt. The company holds a portfolio of 100%-owned gold assets in Ontario, including the past-producing McMillan Gold Mine and Mongowin properties, and the Michaud/Munro properties. McFarlane is actively planning exploration drilling and technical studies to further evaluate and advance its large-scale gold systems.
Average Trading Volume: 991,101
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$21.64M
Learn more about MLM stock on TipRanks’ Stock Analysis page.