Meridian raises fresh cash to advance Brazil gold-copper project
Meridian Mining raised Cdn$5.9mn (US$4.4mn) via a private placement to advance its Cabaçal gold-copper project in Brazil's Mato Grosso state.
"The company intends to use the net proceeds of the offering for the completion of the Cabaçal project PEA, Cabaçal project exploration program, property payment pursuant to the Cabaçal purchase agreement, general corporate and administration costs and general working capital," Meridian said in a statement.
The project operated as an underground mine producing 869,279t at 5g/t gold and 0.82% copper over four years up to 1991.
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