The Conversation (0)
Zazu Metals (TSX:ZAZ) announced a non-brokered private placement for up to US$2 million by way of issuing up to 10 million shares at a price of C$0.25 per share or US$0.20 per share.
Zazu Metals (TSX:ZAZ) announced a non-brokered private placement for up to US$2 million by way of issuing up to 10 million shares at a price of C$0.25 per share or US$0.20 per share.
As quoted in the press release:
Zazu Metals Corporation (TSX:ZAZ)(OTCQX:ZAZUF) (“Zazu”, the “Company”) is proceeding with a non-brokered private placement to raise up to US$2,000,000 through the issuance of up to 10 million shares at a price of C$0.25 per share or US$0.20 per share. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day.
The Company intends to use the proceeds from the private placement for property development expenditures and general working capital purposes. Completion of the private placement is subject to regulatory approval.
Zazu Metals Highlights:
- Lik South is expected to be one of the largest and lowest cost producers of zinc concentrate globally according to its March 2014 PEA
- In March 2014, a Preliminary Economic Assessment was completed for the Lik South project identifying the huge potential for zinc mining.
- The PEA estimates that 17.1Mt tonnes of ore milled at an average gade of 7.7% zinc, 2.6% lead and 47 g/t silver would come from the Lik South project
- Underground extension provides an exploration upside
- Excellent available infrastructure, such as a concentrate shipping port and a purpose built haul road, within the mining-friendly jurisdiction of Alaska
- Close proximity to Teck’s Red Dog Mine—one of the world’s largest zinc mines
- Tight share structure, low burn rate
- Experienced, goal-driven management team
Click here to read the Zazu Metals Corporation (TSX:ZAZ) press release
Click here to see the Zazu Metals Corporation (TSX:ZAZ) profile.