Generation Mining (TSX: GENM; OTCQB: GENMF) is closing in on a financing package to build its permitted $992 million (US$703 million) Marathon palladium-copper project in northwestern Ontario, chairman Kerry Knoll said.
The company is trying to bridge the initial capital bill while its stock trades at what Knoll calls a steep discount to peers.
“People look at us and say, how is the company your size going to raise that kind of money?” Knoll told delegates at The Northern Miner’s International Metals Symposium in London. “Well, we’re going to show them that we can. And if you know my background, I’ve raised that money before.”
Knoll, a former Northern Miner editor, who later helped start Wheaton River, Thompson Creek and Glencairn Gold, argued palladium’s outlook is improving as hybrid vehicles gain share and automakers gravitate back to the metal at the expense of platinum. This should help to lift sentiment after palladium’s price slide, he said.
Be the first to comment on "London Symposium JV video: Generation Mining closes in on Marathon financing"