The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) BVU continues its momentum in the development of economic mineral deposits by its acquisition of several prospective exploration projects. The company currently holds multiple options for acquisition focused on developing more efficient exploration projects and has emerged as a new and undiscovered pure gold play as the largest undeveloped gold asset in the Yukon.
A full interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland, adjacent to New Found Gold Corp.’s Queensway North project
- An option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property
- An option and joint venture agreement (JVA) in April 2021 to acquire up to a 100% interest in its Florin gold project, covering nearly 22,000 contiguous acres in the historic Tintina Gold Belt in the Yukon Territory
In addition, St. James Gold recently announced it has entered into an agreement with Canaccord Genuity Corp. as lead agent and on the behalf of a syndicate of agents. The deal was made in connection with commercially reasonable efforts and brokered private placement of up to 2,170,000 units of the company at $3 per unit. Aggregate proceeds to the company will be $6,510,000. More information is available at the St. James Gold website http://stjamesgold.com/.
The Florin gold project covers nearly 22,000 contiguous acres in the historic Tintina Gold Belt, subject to regulatory approval. The resource has contributed to a 27% increase in total ounces of gold while being upgraded from a block model and now including a pit whittle shell.
The company also intends to use the net proceeds of the offering to close the initial payment on the Florin project acquisition. Proceeds will also be used to finance drilling on the Florin gold project and Newfoundland properties.
The St. James Gold momentum continued with a shares jump of 23% after the news of the company closing a deal with an underwriting syndicate in connection with a brokered private placement of up to 2.17 million units at $3 per unit, with the expectation of raising $6.51 million. In the deal, the company granted underwriters the option to increase the size of the offering by up to 500,000 units, with the potential of another $1.5 million in proceeds.
Gold prices recently have defied U.S. inflation, job growth and economic stimulus prompted by the ongoing pandemic by rising to its highest level in three months.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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