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Pasofino Gold ( (TSE:VEIN) ) has shared an update.
Pasofino Gold Limited has successfully closed a non-brokered private placement, raising C$12.0 million through the issuance of 24,000,000 units, each comprising one common share and one warrant. The funds will be used to update the feasibility study for the Dugbe Gold Project, repay debts to the Liberian government, and for general working capital. The participation of insiders, including the company’s controlling shareholder, highlights strong internal support, with insiders contributing 54.2% of the total offering. This strategic financial move positions Pasofino to better align with current gold prices and project costs, potentially enhancing its market position.
More about Pasofino Gold
Pasofino Gold Limited operates in the mining industry, focusing on the exploration and development of gold resources. The company is primarily involved in the Dugbe Gold Project, aiming to capitalize on the gold market.
Average Trading Volume: 56,088
Technical Sentiment Signal: Buy
Current Market Cap: C$69.87M
See more insights into VEIN stock on TipRanks’ Stock Analysis page.