Prophecy Platinum has completed a $5.9-million equity financing deal, part of which will go towards studies at the company’s Shakespeare PGM-nickel-copper property located west of Sudbury.
The funds will also be applied to exploration and development activities at the company’s Wellgreen PGM-nickel-copper project in the Yukon and other Canadian exploration projects.
"We are very pleased with the strong support demonstrated by our investors in this $5.9 million equity financing,” Prophecy’s president and CEO, Greg Johnson, said in a statement. “We believe the success of this offering reflects the recognition of the potential value of the company’s PGM projects and the confidence investors have in the commitment of the company's experienced management team to create significant shareholder value.”
Johnson said an updated economic assessment at its Wellgreen project is scheduled to be completed in the first half of next year.
