A recently completed equity financing is expected to generate gross proceeds of $25 million for St. Genevieve Resources (SGV-M). The net proceeds will be released once the company meets certain regulatory conditions.
St. Genevieve intends to use the bulk of the proceeds to increase its stake in a related company holding rights to the Amestitovoe gold deposit in Russia. This project has reserves of 10.42 million tonnes averaging 9.12 grams gold and 43.45 grams silver per tonne.
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