Northland Capital partners view on Mariana Resources: It is positive to see significant strategic investment already committed to the placement for Mariana Resources, highlighting investor confidence in the quality of the Hot Maden Project and the Mariana Team. The funds from this placing, when closed, will be dominantly used to advance Mariana’s 30% interest in the 3moz Au eq. at a ultra-high grade of 11.2g/t Au eq. Hot Maden Project to Preliminary Economic Assessment and ultimate feasibility.
| Mariana Resources (MARL.L) – CORP: Private placement |
| Market Cap: £17.8m; Current Price: 2p |
| Private placement to raise £4m to £6m |
| n Mariana Resources is seeking to raise £4m-£6m through a private placing of up to 330,000,000 shares at a price of 1.82p per share with a one for two warrant with an exercise price of 2.5p. As part of the placing a North American royalty company and its consortium have committed US$5m and Mariana has already received commitments in excess of £4m with the ability to raise up to £6m.
n Forecasts, rating and price target under review pending the close of the financing expected on 22/04/16. |
