Battle North ups raising to C$55 million

By Staff reporter / August 20, 2020 / www.mining-journal.com / Article Link

It had announced plans earlier in the day to raise $45 million, priced at $1.85 per share and $2.68 per flow-through share.

The underwriters, led by Cormark Securities and Stifel GMP, were granted an over-allotment option.

The company said proceeds would be used for exploration, pre-development and development activities at its flagship, "shovel-ready" Bateman project in Ontario, plus for general working capital purposes and/or repayment of its loan facility.

Proceeds from the flow-through shares would be used for exploration expenses on its Red Lake regional claims.

Battle North had last month unveiled a circa 1 million ounce updated resource for Bateman, which it renamed from Phoenix as part of "a new era" for the company at the previously mined operation, which was shuttered soon after its first gold pour in 2015 due to various issues.

Its new website described the company as "a battle-tested Canadian gold developer".

Operations at Bateman resumed this week after a forest fire was contained

The George Ogilvie-led company said it remained on schedule to deliver a feasibility study for the project before year end.

It had cash and equivalents of $11.5 million at July 30.

Battle North's shares (TSX: BNAU) have ranged from 55c-$2.25 over the past year.

They closed down 8.9% yesterday to $1.85 to capitalise it at $177.2 million (US$134 million).

Recent News

Several new entrants to TSXV large gold, including producer Asante

November 24, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline, equity market slide

November 24, 2025 / www.canadianminingreport.com

Largest gold producers see strong Q3/25 earnings

November 17, 2025 / www.canadianminingreport.com

Gold stocks jump on gain in metal price

November 17, 2025 / www.canadianminingreport.com

AOCE and WB boost gold targets for 2025 significantly

November 10, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok