Minera Cerro Quema S.A., a subsidiary of Ressources Pershimco Inc., recently announced that its private stock offering for the Cerro Quema gold and Panama copper project has closed successfully.
The proceeds of the offering will be used to complete the remaining engineering studies needed for the Cerro Quema project to move forward. Minera Cerro Quema S.A. hopes to be shovel-ready as soon as required permitting is achieved.
The firm issued 18,748,564 shares at the common level, for a price of $0.1742 per share. This led to a gross proceed of $3,266,000, mostly coming from RK Mine Finance, which is a part of the Red Kite group. These shares will be frozen in accordance with Canadian security law for a four month period.
Ressources Pershimco Inc. itself is virulent mineral exploration and development company adept at creating and running international mining projects. The Cerro Quema project boasts no indigenous groups that could be displaced, road access and a temperate climate lending itself to mining operations.
Additionally, there is strong resource expansion potential for the project regarding 12 oxide targets the firm has identified alongside a 17-kilometer stretch, as well as a 12-kilometer stretch with high porphyry indicators.
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