As Dolly Varden Silver (DV.V)(DOLLF.US) has completed their 55,000m drill program at Kitsault Valley a month ago, the treasury could use some freshly incoming capital, and since the company has no shortage of strong backers, this time shareholder Hecla Mining (HL.US)
Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) did a good job raising C$1.55M , after announcing the non-brokered placement on August 8, 2023 for an amount up to C$1M, and upsizing it to C$1.2M on August 29, 2023 due to additional interest from investors.
In uncertain times, where the Fed gradually seems to be pushed closer and closer to a rate hike pause, potentially followed by rate cuts somewhere in 2024, the Russian conflict keeps aggrevating, and the Chinese government keeps coming with soft measures to restart their economy, Dolly Varden Silver (DV.V)(DOLLF.US)
With the Federal Reserve pausing their rate hikes for now, awaiting developments for the economy although being somewhat surprised by the strength of it, expecting one more hike before year end but no quick pivot to rate cuts in 2024, general sentiment remains neutral, although a recession looms behind the scenes.
Just as gold is making a comeback from recent lows, Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) is in the midst of raising fresh cash for their upcoming exploration programs at Cervantes (Mexico) and Tombstone (Arizona). After announcing the non-brokered placement on August 8, 2023 for an amount up to C$1M, management closed a first tranche on August 29, 2023, and indicated the placement would be increased to C$1.2M due to additional interest from investors.
As Westward Gold Inc. (WG.CSE) is looking to expand, in order to be able to attract more financing, they are also building on their team, and the most recent hire reflects this in spades according to management. Incoming VP Exploration Robert Edie will be stepping up to the plate at the end of September, while transitioning to this position effective immediately.
After closing the C$950k non-brokered private placement in May (14c FT and 11c NFT with half 22c 3y warrant), completing an airborne magnetic survey, and interpreting lots of data in order to identify multiple targets for summer prospecting, EGR Exploration (EGR.V)
Ice drilling at Regnault target, Frotet project, Quebec
After experiencing the last rate hike by the Federal Reserve in July, it seems more and more likely that the world economy is heading into a soft landing, with inflation continuing to go down.
After raising C$2.7M in March and closing the South Timmins JV with Fancamp, Platinex (PTX:CSE)(9PX:FRA) has been busy doing reconnaissance exploration and further developing of exploration plans for their Shining Tree, Heenan and Mallard gold projects located in the Abitibi region, and near well-known assets like Coté (IAMGold/Sumitomo) and Juby (Aris Gold).
It has been quiet for a while, since Westward Gold Inc. (WG.CSE) released the results of their first deep confirmation hole at their flagship Toiyabe project in Nevada on May 23, 2023. The company used the positive outcomes (12.7m @ 1.01g/t Au from 556.4m aren’t economic in itself but are very important vectors for analogous deposits like Cortez Hills, being hosted in the same type of host rocks) to return to the markets, and raise fresh cash for a follow-up drill program.