Home » , , » Nickel miner listed in Canada raises $2M to fund exploration

Nickel miner listed in Canada raises $2M to fund exploration

CANADIAN miner MBMI Resources, Inc. has tapped the debt market anew to raise funds for nickel exploration projects in the Philippines.

MBMI Resources told the Canadian bourse it had raised $2 million via private placement. “The net proceeds shall be used for exploration and development of MBMI’s Philippine nickel mineral properties, and for general corporate purposes,” the miner said.

MBMI Resources said some 10 million shares priced at $0.20 per share were transferred to private investors. The shares are backed by a common share and a full common share purchase warrant.

Each full warrant entitles the holder to purchase additional shares in MBMI Resources at $0.30 apiece. The warrant will expire in three years. The common shares, meanwhile, are subject to a four-month holding period.

Last month, MBMI Resources raised $5 million through the same scheme to pare debts and fund nickel exploration projects in Palawan.

This came on top of the $200,000 loan it had secured from European bank Global Capital Corp.

MBMI Resources is exploring four nickel mining properties in Palawan, four in Samar, and one at Dinagat Island in Surigao del Norte.

Locally, the firm controls nickel laterite projects covering about 22,000 hectares. It wants to become a major supplier of high-grade nickel material to primary industrial consumers in Asia like China and India. -- K. J. R. Liu, BusinessWorld
Share:

No comments:

Popular Posts

Featured

Siargaonon women surfers dominate Pilipinas Surfing Nationals in Baler

Three Siargaonon women surfers went victorious during the Pilipinas Surfing Nationals  Leg 2 in Baler, Aurora recently. Nilbie Blancada (C...

Home Top Ad

Post Top Ad

Archive

Car News

{getPosts} $results={4} $label={Cars} $type={block2}

Post Bottom Ad

Responsive Ads Here

Fashion

News

Food

Sports

Food

Technology

Featured

Videos

نموذج الاتصال

Name

Email *

Message *

About Us

There are many variations of passages of Lorem Ipsum available.

Popular Posts

Categories

Blog Archive

Recent Posts

Unordered List

  • Lorem ipsum dolor sit amet, consectetuer adipiscing elit.
  • Aliquam tincidunt mauris eu risus.
  • Vestibulum auctor dapibus neque.

Sample Text

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation test link ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate another link velit esse cillum dolore eu fugiat nulla pariatur.

Pages

Theme Support

Need our help to upload or customize this blogger template? Contact me with details about the theme customization you need.
Copyright © SURIGAO Today | Powered by Blogger