In total the March 2018 two-tranche placement raised $2.65 million through the issue of 7.57 million shares priced at 35 cents each.
The funds were earmarked to go towards accelerated exploration at Marquee’s newly acquired interests in the Werner Lake Cobalt project in Ontario, Canada.
Camp accommodation will be commissioned this week
Over the last week, Marquee has been undertaking road repairs and additional track clearance to enable the camp accommodation and drilling rig ease of access to the Werner Lake.
This work is going well and is nearly finished.
Marquee expects that the camp accommodation will be commissioned this week with drilling to begin soon after and will provide further updates to investors once this occurs.
Marquee has an option to earn up to a 70% interest in Werner Lake.
The aggressive exploration schedule at the project will include a phase I, 3,500-metre diamond drilling program.