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West Oak Gold Corp. ( (TSE:SI) ) has provided an update.
Silicon Metals Corp. has successfully closed the final tranche of its non-brokered private placements, raising $200,000. This strategic funding round included experienced mining resource investors, enhancing the company’s shareholder base as it advances its corporate and operational initiatives. The proceeds from the offering will be used for general working capital, and the issued securities are subject to a statutory hold period. The closure of this funding round positions Silicon Metals to further its exploration and development projects in Canada, strengthening its market presence in the silica resource industry.
More about West Oak Gold Corp.
Silicon Metals Corp. is focused on exploration and development projects in Canada, particularly in British Columbia and Ontario. The company operates the Maple Birch Project in Ontario, known for its high purity quartz pegmatite with a production permit of 3,000 tonnes per year. Additionally, Silicon Metals holds full rights to the Ptarmigan Silica Project, Silica Ridge Silica Project, and Longworth Silica Project, all in British Columbia, emphasizing its commitment to silica resource development.
Average Trading Volume: 88,353
Technical Sentiment Signal: Sell
Current Market Cap: C$1.42M
Find detailed analytics on SI stock on TipRanks’ Stock Analysis page.