ITEC Mineral, a 67%-owned subsidiary of St. Genevieve Resources (ME), is raising funds to upgrade its Norebec-Manitou mill near Val d’Or, Que.
Proceeds from a $5-million financing, consisting of 1.7 million shares at $3 each, will be used to boost milling capacity to 5,000 tonnes per day. Funds will also be used to complete feasibility studies on other projects. A second $5-million financing will be offered shortly.
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