CAPITAL MARKETS

Tinka fills tank for new Ayawilca assault

Peru zinc explorer Tinka Resources (TSXV: TK) CEO Dr Graham Carman says the junior should be fully funded to complete planned exploration work at its flagship Ayawilca project in Peru over the next 12-18 months after taking on board C$8 million of equity funds from a new issue. It closed the first $5.77 million tranche of the issue this week.

Staff reporter
Tinka primed for more drilling at Ayawilca in Peru

Tinka primed for more drilling at Ayawilca in Peru

Carman said the non-brokered private placement brought in "several Peruvian investors to the Tinka shareholder register for the first time", while he noted Sentient Equity Partners now owned about 24.7% of the company (23.9% on a fully diluted basis).

The first-tranche shares were issued at 48c. Tinka was trading at 47c overnight, capitalising the company at C$105.65 million.

"During 2018 we are planning up to 15,000m of step-out drilling at the Ayawilca project, targeting additional zinc resources at the Zone 3, Valley, and extensions to South and West Ayawilca areas," Carman said.

"We anticipate updating the mineral resources and completing a preliminary economic assessment during the second half of 2018.

"Two drill rigs are currently operating on site.

"I look forward to updating our shareholders as the drill results become available."

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.