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| Marengo traded on TSX | |
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By FRANK ASAELI MARENGO Mining Ltd, the owner of the Yandera copper-molybdenum project in the country, has begun trading ordinary shares on the Toronto Stock Exchange (TSX) and net proceeds to be used on the Yandera project. The company announced yesterday it has completed its previously announced offering of issuing a total of 51,447,369 ordinary shares at A$0.201 (K0.470) per share based on the Bank of Canada for gross proceeds of A$10,378,117 (K24,316,113 million). Managing drector Les Emery said: “Marengo’s ordinary shares began trading today (yesterday) on the Toronto Stock Exchange under the symbol MRN.” He said Marengo intends to use the net proceeds of the offering, together with its current cash reserves of approximately A$21.0 million (K49.2 million), for the completion of its definitively feasibility study (DFS) on developing a mine and associated processing plant for the Yandera project. |
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