Shares of Relevant Gold traded 6.7% higher by 11:20 a.m. ET Thursday on the investment announcement, giving the Vancouver-based junior a market capitalization of C$20.4 million.
“Kinross’s strategic investment represents a strong vote of confidence in our team’s Wyoming exploration vision and ability to execute in the field- we are thrilled to welcome them as a major shareholder and strategic partner,” said Relevant Gold’s CEO Rob Bergmann.
He added that this investment marks “a key milestone” for the company as it looks to expand its technical depth, strengthen its corporate structure and bolster its treasury.
The Kinross investment is separate from the private placement that Relevant completed last month, under which it sold approximately 5.78 million units at C$0.25 per unit for proceeds of C$1.44 million. The units also contained one share and one-half warrant.
Proceeds from both placements will go towards…
