Toronto-based Minefinders (VSE) will not proceed with the previously announced “best efforts” private placement through Canaccord of 500,000 units at $4.20 per unit.
The junior says it is well funded and intends to complete the initial phase of exploration at its Dolores property in Mexico and Oro Blanco property in Arizona.
Surface work is under way at Dolores. In Arizona, the company awaits the issuance of a permit for the use of a drill access road; planned at Oro Blanco is a 5,000-ft. reverse-circulation drilling program.
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