Solitario Exploration to launch common stock offering
Solitario Exploration & Royalty Corp. (AMEX: XPL)(TSE:SLR) said Wednesday that it plans to raise proceeds through a public common stock offering.
Roth Capital Partners is acting as the sole manager of the offering. The size of the offering and other terms were not disclosed.
Denver, Colorado-based Solitario said it plans to use the proceeds to complete a feasibility study, and advance permitting and exploration drilling at its Mt. Hamilton gold-silver project in Nevada.
The funds will also be used for exploration in Peru and Mexico, as well as to repay certain short-term loans.
Aside from Mt. Hamilton, the company holds an interest in the Bongara zinc project in Peru, where partner Votorantim Metais is funding the project through production. Solatario is also exploring in Brazil and Mexico.
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