Junior corporate roundup: Prize, Millennial, Lupaka
Prize Mining closed the final tranche of a non-brokered private placement.
The company raised Cdn$500,000, bringing the total raised from the three tranches to Cdn$7.6mn (US$5.8mn).
An additional Cdn$4.0mn brokered financing is expected to close on August 24.
Following the closing of the financing, Prize plans to advance drilling in Canada and Mexico, where it has the Manto Negro copper project.
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Millennial Lithium issued an update on its Pastos Grandes lithium project in Argentina.
A number of studies to support basic engineering and a feasibility study are underway, with pilot pond earthworks completed and pumping well testing planned to begin in September. Ground geophysical studies have also begun.
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Lupaka Gold provided an update on development activities at the Invicta gold project in Peru.
An upgrade of the 26km main access road is substantially complete, with 6,500t of mineralized material transported to two local toll mining facilities, of which 1,900t has been processed.
An inspection by the energy and mines ministry for the exploitation license is due for completion by end-October, with production from the first test mining stope due in Q3.
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News in: Mining & Metals (Mexico)
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