A private placement will provide Mink Mineral Resources (VSE) with US$8.25 million to fund further work on projects in Mali, West Africa.
The placement includes US$2 million through the sale of shares at 60 cents each, plus US$6.25 million through a loan convertible into common shares of the company.
The conversion rate of the loan will be based on the average market price of Mink during the 10 trading days prior to the decision to convert. Viceroy Resources (TSE) has completed its 51% earn-in on Mink’s Niaouleni gold concession, and additional work is planned.
Meanwhile, Mink and AML Global Exploration are negotiating with the Malian government to acquire the Kenieba diamond concession.
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