Shares of AbraSilver traded at C$2.72 in Friday’s morning trading, for an intraday loss of 1.1% and a market capitalization of C$345.8 million ($240.5m). The stock ranged from C$1.32 to C$3.58 over the past 52 weeks.
Central Puerto SA, Argentina’s leading electricity provider, and Kinross Gold (TSX: K) are the subscribers under the placement, activating their anti-dilution rights as shareholders. Both became shareholders in AbraSilver last April with a combined C$20 million investment for a 4% equity interest each.
“We are truly delighted to announce this C$48.4 million financing, providing us with immense financial flexibility to accelerate the development of our Diablillos project and continue unlocking its full potential,” stated John Miniotis, CEO of AbraSilver, in a press release.
Increased project value
The value of the Diablillos project was raised late last year following an updated…
