EDM Resources Inc - Mining Stock Analysis & Updates
Latest News and Market Performance for EDM Resources Inc
Perm ID: 1-4297200043
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EDM Provides an Update on the Scotia Mine as it Advances Towards Production
EDM Resources Inc. updates investors on progress towards commercial production at Scotia Mine, including a Dense Media Separation study, water modelling for DFO application, community engagement, and negotiations for silver and gypsum offtake agreements.
EDM Announces Successful Results of Dense Media Separation Study on High-Grade Ores of the Scotia Mine
EDM Resources Inc. announced promising initial Heavy Liquid Separation test results from high-grade zinc and lead samples at Scotia Mine, indicating effective pre-concentration methods that could lower processing costs while achieving high recovery rates for both minerals.
EDM Provides an Update on DMS Study and Scotia Mine Advancement
EDM Resources Inc. provides a corporate update on advancing the Scotia Mine towards production, highlighting successful Dense Media Separation (DMS) trials conducted by SGS Laboratories. DMS aims to enhance mineral processing efficiency and reduce costs.
EDM Announces Closing of Second Tranche of Its Upsized Non-Brokered Private Placement
EDM Resources closes second financing tranche, raising C$913,440 for Scotia Mine development and permits.
EDM Announces Further Increase to Non-Brokered Private Placement of up to C$1.8m
EDM Resources Inc. has increased its non-brokered private placement due to additional investor demand, offering up to 16,363,636 units at a price of C$0.11 per unit, aiming to raise total gross proceeds of up to C$1.8 million. Each unit comprises one common share and one share purchase warrant, which allows the holder to purchase a common share at C$0.14 within 36 months from the issue date. Proceeds will be used for environmental and permitting work at Scotia Mine and for general corporate working capital. Participation of certain directors and insiders in the offering is deemed a "related party transaction", but is exempt from specific regulatory requirements.
EDM Announces Closing of First Tranche of Its $1.5m Upsized Non-Brokered Private Placement
EDM Resources Inc. has announced the closure of the first tranche of a non-brokered private placement financing, raising C$777,705. The overall financing, which was increased to $1.5 million, is expected to close its second and final tranche by November 14, 2024. The first tranche involved the issuance of over 7 million units, each consisting of a common share and a purchase warrant. The proceeds will be used for environmental work at the Scotia Mine and general working capital. In relation to the offering, the Company paid C$17,094 and issued 155,400 broker warrants to eligible brokers.
