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Pasofino Gold ( (TSE:VEIN) ) has issued an update.
Pasofino Gold Limited has successfully closed a non-brokered private placement, raising approximately C$5.0 million. The proceeds will be used to advance the Dugbe Gold Project and for general working capital. The offering saw significant insider participation, with Mansa Resources Limited maintaining its majority interest. The company plans to update its 2022 feasibility study to reflect current market conditions, signaling a strategic move to align with the evolving gold price environment.
More about Pasofino Gold
Pasofino Gold Limited operates in the mining industry, focusing on the exploration and development of gold deposits. The company is primarily involved in the Dugbe Gold Project located in southern Liberia, which is part of the Birimian Supergroup known for hosting significant West African gold deposits.
Average Trading Volume: 38,848
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$55.01M
See more data about VEIN stock on TipRanks’ Stock Analysis page.