Junior roundup: Tinka, Eldorado, Calibre, Rock Tech Lithium

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Tuesday, March 13, 2018

Tinka Resources announced a bought deal offering and private placement financing aimed at raising up to Cdn$14.1mn (US$10.9mn).

A syndicate of underwriters led by GMP Securities will purchase 14.6mn units of the company for Cdn$7.01mn, with an over-allotment option to purchase up to 2.19mn units for a further Cdn$1.05mn.

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The non-brokered private placement of up to 12.5mn units is expected to raise up to Cdn$6.0mn of gross proceeds.

Net proceeds from the deals will fund exploration at Tinka's Ayawilca polymetallic project in Peru and general corporate and working capital purposes.

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Eldorado Gold announced changes to its senior management team, including the departure of CFO Fabiana Chubbs at end-April and the appointment of Timothy Garvin as executive vice president and general counsel.

The company has the Vila Nova iron ore mine and Tocantinzinho gold project in Brazil, as well as mines in Canada and Europe.

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Calibre Mining will apply to the TSX Venture Exchange to extend the expiry date of 26.6mn common share purchase warrants by a year to April 21, 2019.

Calibre has mineral concessions in Nicaragua including the Primavera gold-copper and Santa Maria gold projects.

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Rock Tech Lithium plans to proceed with a previously announced acquisition of the Nogalito lithium project in Mexico, after announcing completion of due diligence.

Rock Tech will make payments totaling US$130,000 over three years, spend US$500,000 on exploration and issue 250,000 shares to the vendor.