Shares in Blue Moon’s traded at C$0.355 early on Thursday in Toronto for a market capitalization of C$18.9 million. Its 52-week high was C$0.43, while its low during that period was C$0.025.
In tandem with the project acquisitions, the company said it will also issue new equity valued at between C$30 million and C$50 million, the bulk of which will be used to fund planned work at the Nussir property. This financing will comprise units of Blue Moon priced at C$3.00, with each unit comprising one share (priced at C$0.30, or one 10th of the unit price) and nine subscription receipts.
Newly appointed CEO Christian Kargl-Simard said the transactions would “create a new copper-zinc development company located in Tier 1 jurisdictions.”
Norway is a member of the United States-led Minerals Security Partnership that aims to secure supplies of critical raw materials including copper and zinc, he in a…
