Mayfair Completes Strategic Investment with Macquarie
Mayfair Gold completed its previously announced strategic investment with Macquarie Bank, which acquired 2,346,701 shares at C$4.26 for gross proceeds of approximately C$10 million. Proceeds will fund advancement of the 100%-owned Fenn-Gib gold project near Timmins, Ontario, which hosts a 4.3-million-ounce indicated resource and a 1-million-ounce near-surface probable reserve.
Key figures
- Deal Value Usd
- C$10,000,000
- Offering Price
- C$4.26
- Shares Offered
- 2346701
- Pfs six year fcf
- US$896 million
- Probable reserve
- 1 million ounces (25.1Mt at 1.29 g/t)
- Pfs payback years
- 2.7
- Hold period expiry
- February 15, 2027
- Fenn gib indicated resource
- 4.3 million ounces gold (181.3Mt at 0.74 g/t)
- Initial development capital
- C$450 million
AI analysis
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