22 May 2024
22 May 2024
Bubbling below the earth's surface is a stash of metals essential to the energy transition. Reaching these resources means mining a volcano.
The Sierra Blanca project comprises five mining titles spread over 7,997 hectares (ha).
The capital raise is part of the company's strategy to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining.
The company decided to withdraw from the agreement after failing to secure approval from Canadian regulatory authorities.
The proceeds will be used by the company for debt repayment and general corporate needs.
The company will issue 56,521,740 ordinary shares, with the issue price a 20.7% discount to the stock close on 15 May 2024.
Once Callinex secures full ownership of the Alberts Lake Project, Voyageur will retain a 1.5% net smelter return (NSR) royalty.
The acquisition is said to be a critical milestone in efforts to re-establish diamond production at Ellendale.
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