Royalty company Euro-Nevada Mining (TSE) plans to raise between $52 million and $65 million to finance development of the Midas project in Nevada, in which it has a half interest.
The company will issue, by way of a short-form prospectus, 1 million shares priced at $52 per share. A provision will allow Euro-Nevada to issue another 250,000 shares at the same price.
Proceeds will also be used to expand operations in Australia.
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