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Gold and Silver Explorers are Bringing in More Funding Than Ever Amid the Gold Run

PR Newswire - PRF - Tue Sep 22, 7:45AM CDT
  

NEW YORK , Sept. 22, 2020 /PRNewswire/ -- As gold prices near all-time highs, mining companies are finding more opportunities for funding than they have seen in years. Mining companies raised a total of $1.48 billion in August according to BMO Capital Markets, making August 2020 the biggest month for mining funding in more than six years. Investors are looking to capitalize on the ongoing gold run by throwing money at gold explorers and producers with prime mining assets that are set up for big returns. This past month was packed with examples of junior and intermediate receiving non-brokered private placements and bought-deal financings, with major investments heading to companies like Blackrock Gold Corp. (TSXV:BRC.VN) (OTCQB:BKRRF), PureGold Mining Inc. (TSXV:PGM.VN), Orefinders Resources Inc, (TSXV:ORX.VN), StrikePoint Gold Inc. ( TSX-V: SKP), and First Mining Gold Corp. (TSX:FF.TO).

Blackrock Gold Corp. (BRC.V) (BKRRF.QB) Receives Major Investment From Billionaire Eric Sprott

Blackrock Gold Corp. announced   on August 4 that the company had closed a C$7.5 million private placement, led by a C$5 million investment from billionaire businessman Eric Sprott . The private placement was previously announced on July 22 . As per the company's announcement, Sprott received a total of 10,416,667 shares in Blackrock at a price of C$0.72 per share.

Blackrock Gold Corp. intends to put this funding to use for exploration on the company's impressive Tonopah West property and for general working capital.

Sprott's interest in Blackrock Gold Corp. (BRC.V) (BKRRF.QB) likely has a lot to do with the company's control over more than half of the Tonopah Silver District, one of the most desirable mining districts in the state of Nevada . As the last great silver district to be discovered in the state in 1900, Tonopah has produced more than 174 million ounces of gold and 1.8 million ounces of silver. Despite this, Blackrock is the first company to bring modern exploration to Tonopah since production in the district shut down nearly a century ago due to low metals prices

Blackrock's Tonopah West land package comprises of 97 patented and 17 unpatented mining claims covering 4.5 sq km (1,100 acres) of the Tonopah Silver District. In early September, Blackrock announced its second discovery on the property, drilling 2,215 G/T silver equivalent over 3.0 meters within 4.6 meters of 1,577 G/T silver equivalent.

Blackrock Gold Corp. is also commencing exploration on a second property in Nevada . The company is starting with a 3,500 meter, 14-drill-hole program at the Silver Cloud property in Northeastern Nevada . Blackrock came into possession of Silver Cloud shortly after the property was foreclosed, eliminating the royalty agreements that kept exploration and production of this asset financially non viable since its stake in 1999. In September, Blackrock announced that the company was considering spinning off a subsidiary company that would be solely focused on exploration at Silver Cloud.

Junior and Intermediate Miners Receive Major Investments

On August 18 , junior mining company PureGold Mining Inc. (TSXV:PGM.VN) announced that major mining company AngloGold Ashanti had increased its shareholding in Puregold to 16%. AngloGold Ashanti exercised 5,036,250 share purchase warrants at a strike price of $0.85 per share for a total investment of C$5.0 million .

Orefinders Resources Inc. (TSXV:ORX.VN) announced on August 31 that the company had entered into a private placement agreement with Echelon Wealth Partners Inc. According to the company's announcement, Echelon Wealth Partners will receive C$2,000,000 worth of shares in Orefinders. Echelon has also received an option to purchase up to an additional 15% of units and flow-through units.

StrikePoint Gold Inc. (TSXV:SKP.VN) (OTCQB:STKXF) announced in early September that the company had increased the size of its previously announced non-brokered private placement to  C$3,000,000 through the sale of 20,000,000 Units at a price of $0.15 per unit. The offering includes a lead order by Crescat Capital.

On August 18 , First Mining Gold Corp. (TSX:FF.TO) announced the increase of a previously announced bought-deal financing led by Cormark Securities Inc. to C$25 million . Cormark, along with other underwriters, will receive 50,000,000 units of First Mining at a price of $0.50 per unit. First Mining intends to put the funding towards exploration, development, and permitting at its Canadian gold projects, as well as potential new acquisitions.

These are huge days in the mining industry. Other markets are struggling amid economic uncertainty, but gold and silver are surging. This means that companies like Blackrock Gold Corp. (BRC.V) (BKRRF.QB) with prime precious metals assets are set up to bring in major funding opportunities.

For more information about Blackrock Gold Corp. (TSXV:BRC.VN) (OTCQB:BKRRF), click here.

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates StreetSignals.com.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Blackrock Gold Corp

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

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  info@financialnewsmedia.com
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Cision View original content: http://www.prnewswire.com/news-releases/gold-and-silver-explorers-are-bringing-in-more-funding-than-ever-amid-the-gold-run-301135207.html

SOURCE Microsmallcap.com

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