Patagonia Gold Secures $40M Financing for Calcatreu Project Development

Patagonia Gold ( (TSE:PGDC) ) has provided an announcement.

Patagonia Gold Corp. has announced a proposed financing of up to US$40 million for the development of its Calcatreu project in Rio Negro, Argentina. The financing involves Black River Mine Inc., a consortium led by Carlos J. Miguens, investing in preferred shares of Patagonia Gold Canada Inc., a subsidiary of the company. The funds will be used to advance the Calcatreu project, which recently received final construction permits. The financing is a related party transaction and requires shareholder approval, with a meeting expected in Q2 2025. The project boasts significant gold equivalent resources, enhancing Patagonia Gold’s position in the mining industry.

More about Patagonia Gold

Patagonia Gold Corp. is a publicly traded mining company focused on the exploration and development of gold and silver projects in South America, particularly in the Patagonia region of Argentina. Listed on the TSX Venture Exchange, the company is primarily engaged in the Calcatreu project in Rio Negro and the Cap-Oeste underground project. It holds mineral rights to over 430 properties in Argentina and is a major landholder in Santa Cruz province.

YTD Price Performance: 16.67%

Average Trading Volume: 48,875

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$16.28M

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