$25 million keeps Harte Gold digging.
Harte Gold is digging up more than precious metals in northwestern Ontario.
The White River junior miner has announced $25 million in financing to advance its Sugar Zone project, and has brought an international partner aboard.
The financing package is a combination of $15 million in flow-through common shares with Cantor Fitzgerald Canada and a $10-million private placement with Appian Natural Resources Fund, a London, U.K.-based metals and mining private equity fund.
"Appian brings a uniquely collaborative approach that seeks to leverage Appian's world-class operational team and financial expertise to maximize value for all stakeholders," said Harte Gold president Stephen Roman in a Nov. 24 statement. "We look forward to the mutually beneficial exploration and development of our Sugar Zone property."
The proceeds from the private placement, which closed Dec. 14, will be used to speed up exploration and development of the Sugar Zone property.
The company is proceeding with underground ramp development on its property, located 60 kilometres east of the Hemlo area gold mines and 25 kilometres north of White River, off the Trans-Canada Highway.
The company is in the process of extracting a 70,000-tonne advanced exploration bulk sample from its deposit and expects to be full commercial...
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