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Big TSX financings close

Yukon gold explorer White Gold Corp (TSXV: WGO) and fellow Canadian junior Bonterra Resources (TSXV: BTR) have wrapped up new equity raisings for C$15 million and $21.8 million, respectively, to maintain the impetus of big exploration campaigns in Yukon and Quebec.
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Staff reporter

Bonterra is pumping exploration dollars into its large Urban Barry Camp groundholding on the Abitibi Greenstone Belt.

White Gold is looking to expand its plus-1 million ounce resource at the White Gold project in Yukon's Dawson Range where it has a dominant land position. The company raised $10 million through a public flow-through share issue (5 million C$2 FT shares) supported by Clarus Securities,  GMP Securities, Canaccord Genuity and Sprott Private Wealth.

A concurrent brokered private placement of 3.3 million $1.50 shares raised $5 million.

"We are very pleased to close this financing maintaining our strong financial position as we further explore our recent discoveries in the White Gold district and look to increase the size of our flagship Golden Saddle deposit," said White Gold CEO David D'Onofrio.

Agnico Eagle and Kinross Gold maintained separate 19.6% stakes in White Gold through participation in the raising.

White Gold finished trading at C$1.22 Thursday, capitalising the company at $122.3 million.

Bonterra issued FT and non-FT shares at $3.80 and $3.30, respectively, in a placement brokered and backed by Sprott Capital Partners, PI Financial Corp, Red Cloud Klondike Strike, Canaccord and Haywood Securities.

The company's stock price ended Thursday at $3.69, capitalising Bonterra at $146.5 million.

Meanwhile, Ecuador-focused Lumina Gold (TSXV: LUM) has "upsized" its equity financing to C$20 million, including a new issue of 19.32 million 56c shares to raise $10.8 million, and a $9.2 million private placement also at the 56c strike price the company finished at in Thursday trading in Toronto.

The financing is expected to close later this month.

 

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