An update from Onyx Gold Corp. ( (TSE:ONYX) ) is now available.
Onyx Gold Corp. has announced an increase in its previously announced financing to $11 million with the addition of a $3 million second tranche of flow-through shares. This move is expected to generate aggregate gross proceeds of approximately $11,038,000, which will be used to fund eligible Canadian exploration expenses related to the company’s projects in Ontario and the Yukon. The financing strategy, involving both Canadian and international investors, is designed to strengthen Onyx’s financial position and support its exploration initiatives, potentially enhancing its market presence and value for stakeholders.
More about Onyx Gold Corp.
Onyx Gold Corp. operates in the mining industry, focusing on exploration projects in Ontario and the Yukon. The company is involved in the issuance and sale of flow-through shares to fund its exploration activities.
Average Trading Volume: 138,965
Technical Sentiment Signal: Buy
Current Market Cap: C$36.68M
For an in-depth examination of ONYX stock, go to TipRanks’ Stock Analysis page.