Yesterday, Trigon Metals Inc. ($TM.V $PNTZF) announced that it closed the first tranche of its non-brokered private placement financing of units for aggregate gross proceeds of $1,159,425.
Additionally, the second tranche of orders (totalling $863,029) is expected to close this week.
The net proceeds from the First Tranche are expected to be used for the recommencement of mining at the Kombat mine, for working capital, and general corporate purposes.
$TM also provided an operational update stating that operations are continuing to ramp up at the mine, head grades are meeting expectations and ore delivery to the mill is steadily improving.
Additionally, the mill has transitioned from batch processing to more continuous operation and in March commercial production is expected to be reached.
$TM @ 0.33, MC $51.887M
https://ca.finance.yahoo.com/news/trigon-closes-books-first-tranche-140800175.html