Anvil to raise $55 million

The new company formed to revive the Faro lead-zinc mine in the Yukon has engaged a financing firm to complete a $25-million private placement.

Anvil Range will place 4.4 million shares with both Canadian and foreign institutions this month.

As well, Anvil has filed a preliminary prospectus relating to a $30-million public offering of flow-through shares and silver royalty units in instalments. The offering is expected to close by mid-November.