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Sendero Resources Corp. ( (TSE:SEND) ) just unveiled an update.
Sendero Resources has closed a non-brokered C$2 million private placement with a single significant natural resources institutional investor, issuing 1,739,131 common shares at C$1.15, a premium to its previous financing. The raise brings aggregate recent financing proceeds to C$6.06 million, which will fund drilling and broader exploration at the Peñas Negras property in Argentina and support working capital, while the new investor will hold about 6.7% of Sendero’s outstanding shares, further validating institutional interest alongside its existing high-profile investor group and strengthening the company’s financial position for upcoming exploration plans.
More about Sendero Resources Corp.
Sendero Resources Corp. is a mineral exploration company focused on copper-gold exploration at its 100%-owned Peñas Negras Project in Argentina’s Vicuña Belt, a prolific district hosting multiple porphyry and high-sulfidation epithermal targets. The project lies near major regional operations and advanced projects, including Lundin Mining’s Caserones mine, NGEx Minerals’ Lunahuasi project, and BHP-Lundin Mining’s Filo del Sol, and Sendero also holds an option to earn full ownership of additional nearby mining concessions, bringing its total project area to over 210 square kilometres.
Average Trading Volume: 41,653
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$30.8M
For detailed information about SEND stock, go to TipRanks’ Stock Analysis page.