AuTECO Minerals Ltd (ASX:AUT, OTC:MNXMF) incoming MD Steve Parsons speaks with Proactive following the news the company has raised $55 million in a fully underwritten two-tranche share placement. Proceeds will be used to fund the acquisition of the Green Bay Copper-Gold Project in Newfoundland, Canada. The project includes the Ming Mine and Nugget Pond processing facility previously operated by Rambler Metals and Mining Canada Limited, a subsidiary of previously AIM-listed Rambler Mining and Metals PLC. The acquisition transforms AuTECO into a significant copper company, with Green Bay’s current resources standing at 811,000 tonnes of contained metal at a significant grade of 2.1% copper equivalent.
AuTECO Minerals talks $55 million raise to advance new copper-gold project
