As of 11:45 a.m. ET Wednesday, Banyan’s stock was trading at C$0.42 on the TSX Venture Exchange, down 2.4% from the previous session, with a market capitalization of C$106.3 million ($77.9m).
This financing follows up on a C$17 million private placement announced earlier in June that fully funded Banyan’s growth and development plans for the AurMac gold project heading into 2023. The company now has a 60,000-metre drilling campaign underway, with results continuing to expand the gold-mineralized footprint.
The AurMac project represents an amalgamation of the Aurex and McQuesten properties, as well as claims staked and owned 100% by Banyan, covering 173 square kilometres of Yukon’s Mayo mining district.
The combined property lies approximately 25 km away from Victoria Gold’s Eagle gold mine and adjacent to the Keno Hill silver district operated by Hecla Mining. The Aurex and McQuesten claim blocks were previously held by…
