Kerr Mines Inc (KER)

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Kerr Mines Announces Closing of Oversubscribed $6,000,000 Private Placement
By Maria Burns , in PR PR Economy on December 14, 2017 .

Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) (“Kerr” or the “Company”) is pleased to announce the closing of an oversubscribed non brokered private placement (see press release dated November 29, 2017).

In connection with the placement, the Company will issue 20,371,869 common shares of the Company (“Shares”) at a price of $0.30 per Share for total gross proceeds of $6,111,564 (the “Offering”). Proceeds exceeded the originally announced target of $5 million due to high investor interest. The Company will use the net proceeds from the Offering to continue advancing its flagship Copperstone Mine in Arizona to a production restart decision.

“This financing is another positive step forward in achieving our strategic objectives,” stated Claudio Ciavarella, Kerr's Chief Executive Officer. “With the success of the first phase of our exploration program we have gained further confidence in our ability to move the project towards the successful completion of our updated resource and Pre-feasibility Study in Q1 2018 and subsequent production decision.”

In connection with the Offering the Company paid finder fees totaling $209,387 to certain eligible persons.

The Offering has been conditionally approved by the Toronto Stock Exchange (“TSX“) but remains subject to final approval from the TSX. The securities issued pursuant to the Offering are subject to a four month hold period in accordance with applicable securities laws....”

http://dailytelescope.com/pr/kerr-mines-announces-closing-of-oversubscribed-6000000-private-placement/31752

Quote:
1. Kerr Mines (TSX:KER)
Current price: $0.30; year-to-date gain: 160.87 percent

Kerr Mines retains its first-place position on our best gold stocks list after taking the top spot in Q3. Kerr is a North American gold exploration and development company whose focus is on commencing production at its Arizona-based Copperstone gold property.

In August, the company awarded key contracts for a 2017 exploration program and feasibility study at Copperstone. The same month, Kerr also started the first phase of surface drilling at the project. Since then, Kerr has released a slew of drill results from Copperstone and has also announced a $5 million non-brokered private placement. Proceeds will be used for further exploration at the asset.

2. Kirkland Lake Gold (TSX:KL,NYSE:KL)
Current price: $16.99; year-to-date gain: 155.27 percent

Kirkland Lake Gold is a mid-tier gold company with mines in both Canada and Australia. Last year, the company merged with Newmarket Gold and acquired assets in Australia, including the Cosmo mine and Fosterville mine. Fosterville and the Ontario-based Macassa mine are the company’s key assets.

Since that time, the company has reported an increase in reserves underground from 240,000 ounces to over 1 million ounces at Fosterville alone. Kirkland Lake CEO Tony Makuch says that at Fosterville gold is produced without any by-products and with production costs just under $250 per ounce.

In August of this year, Kirkland Lake began trading on the NYSE, after which the company’s share price crossed the $15 mark for the first time. The company’s guidance for 2017 is 570,000 to 590,000 ounces of gold and it has “increased guidance already twice this year,” as per Makuch.


https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/best-gold-stocks/

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Do you own DD... during 2017 Kerr has been performing well $