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Viva Gold ( (TSE:VAU) ) has issued an announcement.
Viva Gold Corp. has closed an oversubscribed non-brokered private placement, issuing 26,145,456 units at C$0.16 each to raise gross proceeds of approximately C$4.18 million, with each unit comprising one common share and half a warrant exercisable at C$0.24 until late 2028. The financing, which included significant insider participation and is subject to final TSX Venture Exchange approval, will fund pre-feasibility and feasibility work, technical and environmental studies, additional geophysical and drilling programs at the Tonopah Gold Project, and general working capital, strengthening Viva’s capacity to advance the Nevada project toward permitting and enhancing its development trajectory in the regional gold sector.
More about Viva Gold
Viva Gold Corp. is a gold exploration and development company focused on its 100%-owned Tonopah gold project in western Nevada, located on the Walker Lane Trend near Kinross Gold’s Round Mountain mine. The company has outlined a high-confidence mineral resource at Tonopah and is advancing plans for a potentially economically viable open-pit, heap leach/mill gold operation in a well-established mining jurisdiction.
Average Trading Volume: 177,003
Technical Sentiment Signal: Buy
Current Market Cap: C$27.65M
For detailed information about VAU stock, go to TipRanks’ Stock Analysis page.