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Real Economy News in Real Time
R/€ = 20.02 Change: -0.37
R/$ = 18.01 Change: -0.40
Au 1626.15 $/oz Change: 4.67
Pt 741.50 $/oz Change: -6.05
 
 
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Matador raises funds for Canadian exploration

17th February 2020 BY: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Junior Matador Mining has raised more than A$5-million in a share placement to institutional, professional and sophisticated investors, to complete a scoping study on the Cape Ray gold project, in Canada.

The placement consisted of more than 24.1-million shares, at a price of 20c each and was conducted under Matador’s existing placement capacity.

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The issue price represented a 16.7% discount to Matador’s closing price on January 31, and a 17.4% discount to its 15-day volume weighted average share price.

Matador on Monday said that the funds would be used to complete a study to assess gold production at the Cape Ray project, and to restart exploration activities while also continuing with various environmental and stakeholder studies to support the environmental impact statement. 

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EDITED BY: Creamer Media Reporter
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