- Freehill Mining (FHS) has raised $700,000 through the issue of 14 million shares at an issue price of $0.05 cents each
- These shares were issued to professional and sophisticated investor, Gavin Ross, as well as associated parties
- Gavin is an existing shareholder in the company, having invested $750,000 in February
- This money will provide Freehill with financial flexibility and allow it to advance project development initiatives
- Freehill has ended the day 4.17 per cent in the red with shares trading for 4.6 cents each
Freehill Mining (FHS) has raised $700,000 through the issue of 14 million shares at an issue price of $0.05 cents each.
These shares were issued to professional and sophisticated investor, Gavin Ross, as well as associated parties.
Gavin is an existing shareholder in Freehill, having already invested $750,000 in February after visiting the Yerbas Buenas Project in Chile.
“Freehill appears to have huge potential. I travelled to Chile earlier in the year to inspect the Yerbas Buenas project and my conclusion is the ore body is unique and extremely valuable,” Gavin commented.
“It is just a question of how much ore is there; the indication from the recently published MRE (mineral resource estimate) is that these is a lot. Chile is also a favourable mining jurisdiction with a long history of mining,” he said.
This money will provide Freehill with financial flexibility and allow it to advance project development initiatives, expand the resource base, and establish commercial production.
The primary focus is the delivery of a project feasibility study, which has already begun.
Freehill has ended the day 4.17 per cent in the red with shares trading for 4.6 cents each in a $68.16 million market cap.