Junior International Curator Resources (IC-T) plans to raise $6.6 million in a private placement to fund an ongoing feasibility study of its Boleo copper-cobalt property in Baja California Sur, Mexico.
The company plans to sell 600,000 units at $11 each. A unit consists of one common share and half a non-transferable purchase warrant. Each whole warrant will entitle the holder to buy an additional share in the company at any time over two years, at $11.50 per share during the first year and $12 during the second.
In December 1996, the company announced it had upgraded values of cobalt, copper and zinc, based on a re-assaying of drill results. The higher values are expected to add 237 million lb. of contained copper, and 88 million lb.
of contained cobalt to the resource.
Previous estimates placed the resource at 374 million tonnes grading 0.96% copper and 0.071% cobalt (equivalent to 7.9 billion lb. of contained copper and 584 million lb. of contained cobalt).
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