A number of companies are looking to raise funds this week, including Skeena Resources (TSX:SKE), which has secured US$750 million ($1.13 billion) to advance its Eskay Creek Gold-Silver Project in Canada.
The company says the funding package — backed by investment firm Orion Resources Partners — de-risks the project and provides Skeena with optionality, flexibility, and stakeholder alignment as it progresses Eskay towards production, expected in the first half of 2027.
The package includes a US$100 million equity investment, a US$200 million gold stream agreement, which will be drawn in five tranches, a US$350 million senior secured loan, and a US$100 million cost over-run facility.
Skeena is now finalising its 2024 early works programs and detailed engineering plans.
Meanwhile, Theta Gold Mines (ASX:TGM) has received firm commitments from existing and new shareholders to raise US$4 million ($6.02 million) via a private placement.
The placement will be carried out on the same terms as a previously undertaken two-tranche US$10 million, consisting of 46.27 million shares at $0.13 each, along with 23.13 million options to be issued on a one-for-two basis.
Each option will have an exercise price equal to an 8% discount to the 15-day volume-weighted average price and a two-year expiry period.
The funds will support the completion of other funding packages for the TGME Gold Project, work to finalise the engineering, procurement, and construction contract for the plant construction, and work for the plant and tailings storage facility.
Marmota (ASX:MEU) is also conducting a placement to sophisticated and professional investors to raise $1.25 million for a major gold exploration program at Campfire Bore.
The company will issue about 27.77 million shares at a price of $0.045 each, which is identical to the close price on the ASX over the last four days.
The new shares will be ranked equally to all other ordinary shares on issue. The issue of shares is expected to occur on 28 June 2024.
Finally, Sarama Resources (ASX:SRR) has completed the first tranche of its $1 million placement, receiving $900,000 via the issue of 45 million chess depository instruments (CDI) at $0.02 each.
The second tranche will consist of the remaining 5 million CDIs to raise $100,000, which is subject to shareholder approval at a general meeting in September.
The funds raised will be used to assess and pursue a potential acquisition, conduct exploration across the company’s properties, and for general working capital.
Write to Aaliyah Rogan at Mining.com.au
Images: Skeena Resources
