Although 2013 has been a tough year for junior miners, True Gold Mining Inc. has pulled off two significant financings. In May, it raised $10-million from Teck Resources and last month it raised $17.4-million in a private placement from Liberty Metals & Mining Holdings, a subsidiary of Boston-based Liberty Mutual Insurance. Both deals were done at 33 cents. Later, on August 8, board chair Mark O'Dea bought 200,000 shares in the public market at 27.4 cents. True Gold is focused on mine development in Burkina Faso.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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