Welcome to our dedicated page for METALLIC MINERALS news (Ticker: MMNGF), a resource for investors and traders seeking the latest updates and insights on METALLIC MINERALS stock.
Metallic Minerals Corp. reports exploration and development updates for a portfolio of copper, silver, gold, platinum group element and critical minerals assets in North America. The company’s recurring news centers on the La Plata project in southwestern Colorado, including NI 43-101 mineral resource estimates, technical reports and process research on copper-silver-gold-PGE sulphide mineralization.
Company updates also cover high-grade silver exploration at the Keno Silver project in Yukon, alluvial gold claims and production royalty partnerships in the Yukon, and portfolio actions involving non-core properties. Additional announcements include exploration planning, mineral resource work, strategic investment context, and industry presentations tied to its U.S. and Canadian mineral projects.
Metallic Minerals announced the closure of a $1.6 million first tranche of a non-brokered private placement financing. The company issued 4,000,000 flow-through shares at $0.40 each. The funds will support resource expansion at the Keno Silver Project in the Yukon Territory, including additional exploration in Klondike District's gold royalty portfolio. CEO Greg Johnson expressed satisfaction with the interest from Canadian investment funds. The next tranche is expected to close by June 28, 2024. The issued securities are subject to a four-month hold period and the completion is pending TSX-V approval.
Metallic Minerals, trading on TSX.V as MMG and OTCQB as MMNGF, has announced a non-brokered private placement of up to 5,000,000 flow-through common shares at $0.40 per share. This financing aims to raise up to $2,000,000. The proceeds will be directed toward eligible Canadian Exploration Expenses at the Company's Keno Silver project and alluvial gold royalty portfolio in Yukon Territory. Red Cloud Securities Inc. will assist on a 'best efforts' basis. The offering is expected to close around June 24, 2024, and is subject to TSX-V approval. The issued shares will have a hold period of four months and one day.
Metallic Minerals announced the initiation of its 2024 exploration programs at the Keno Silver project in Yukon, Canada, and the La Plata copper-silver-gold-PGE project in Colorado, USA. At Keno Silver, which reported an inaugural resource of 18.2 million ounces of silver equivalent, diamond drilling will commence in July, focusing on resource expansion at the Formo target. La Plata's field programs have begun, targeting high-priority areas like Copper Hill, Renegade, and Morningstar. Drilling will focus on extending mineralization at the Allard resource area. Newmont exercised its 'top-up right' to purchase additional shares, maintaining a 9.5% interest in Metallic Minerals. The company will participate in key industry events like the Yukon Mining Alliance Property Tours & Investment Conference and the National Western Mining Conference & Exhibition.
Metallic Minerals Corp. announces Newmont 's exercise of top-up rights to purchase additional shares to maintain a 9.5% interest in the company. Newmont will buy 342,750 common shares at $0.33 per share. The collaboration between the two companies has been successful, with Newmont providing financial and technical support for exploration activities at the La Plata project, showing promising drilling results and potential resource expansion opportunities.
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