The sale of a $30-million offering of flow-through shares and silver royalty certificates is complete, Anvil Range Mining (TSE) reports.
The company plans to use the funds for stripping of its Grum deposit at the Faro zinc-lead property in the Yukon. A production startup is anticipated for the autumn of 1995.
Anvil acquired the Faro assets of bankrupt Curragh Inc. earlier this year. Acting as agents for the offering were ScotiaMcleod, Wood Gundy and Midland Walwyn. The offering is payable in two instalments, half of which was paid early this month; the balance is due by April 15, 1995.
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