Street Calls of the Week
VANCOUVER/BOISE - Thunder Mountain Gold, Inc. (TSXV:THM) (OTCQB:THMG), a mining company with a current market capitalization of $31 million, announced Thursday its board of directors has approved a non-brokered private placement to raise up to US$2.5 million (CAD$3.5 million). InvestingPro analysis indicates the stock is currently trading above its Fair Value, following an impressive 979% return over the past year.
The offering consists of up to 1 million units priced at US$0.25 (CAD$0.35) per unit. Each unit includes one common share and one-half of a common share purchase warrant. Each whole warrant allows the purchase of an additional common share at US$0.40 (CAD$0.55) for 24 months after issuance.
The company plans to use proceeds for exploration activities and general working capital. The private placement has received conditional approval from the TSX Venture Exchange and may close in multiple tranches.
The offering will be available only to accredited investors through exemptions from prospectus and registration requirements. Securities issued will be subject to a four-month hold period in accordance with TSX Venture Exchange policies and Canadian securities legislation.
Thunder Mountain Gold’s principal asset is the South Mountain Mine in Owyhee County, Idaho, a historic polymetallic development project containing zinc, silver, gold, lead, and copper. The company also owns the Trout Creek Project, a gold exploration project in Nevada. With a beta of 0.5, the stock shows lower volatility compared to the broader market. Get deeper insights into Thunder Mountain Gold’s financial metrics and exclusive analysis with InvestingPro.
According to the company’s statement, Thunder Mountain Gold has invested approximately US$25 million in the South Mountain Project since acquiring it in 2007. The project includes over 4,000 feet of underground developmental workings that have been rehabilitated.
This article is based on a press release statement from Thunder Mountain Gold.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.