logo-loader

King's Bay Resources has raised $402,750 to fund exploration

Last updated: 01:52 01 Sep 2017 AEST, First published: 20:52 31 Aug 2017 AEST

1504194938_kings_bay_resources_-
Pictured is channel sampling

Cobalt and high tech metals focused King's Bay Resources Corp (CVE:KBG) told investors it had raised a total of $402,750 from closing two tranches of  a financing.

The funds will be deployed on exploration expenditures and working capital, the company said.

It comes as the group said it had completed the second and final tranche of a non-brokered, non-flow-through private placing of 615,000 units at 10 cents each for $61,500.

It has also now completed a non-brokered, flow-through private placing of 200,000 flow-through shares at 12.5 cents per flow-through share for gross proceeds of $25,000.

The non-flow-through placing consisted of issuing one company share and one non-transferable  share purchase warrant.

The warrant entitles the holder to buy a company share at 15 cents until August 30, 2019.

'We're on the cusp of an exploration wave' - Mining Capital's Alastair Ford

Mining Capital's Alastair Ford discusses the mining investment clock concept and where he reckons we're at in the cycle. Ford says we're now seeing increased exploration and listings on the junior market. ''We also see specific signs of the boom beginning to emerge like this new gold...

on 27/10/17