Landore Resources raises £470,000 to fund exploration of BAM deposit
The AIM-listed miner said it raised the funds through a subscription of around 64.8mln new shares at 0.725p each
Company
LON:LND
Landore Resources Ltd is an exploration/development company that seeks to grow shareholder value through the acquisition, exploration and development of precious, base and battery metals projects in eastern Canada. The company is primarily focused on the development of its 100% owned BAM Gold Project, located on the Junior Lake Property.
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The AIM-listed miner said it raised the funds through a subscription of around 64.8mln new shares at 0.725p each
The BAM deposit now spans some 3,600 metres and the resource is set to be upgraded.
Landore says at a price of US$1,430 per oz, BAM’s estimated value rises to US$175.5mln.
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It aims to upgrade the BAM gold resource with this programme of infill and extension drilling.
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