Earlier this month NexGold Mining Corp. (NEXG.v NXGCF) announced a bought deal private placement of units and flow through shares for gross proceeds of $110M.
The net proceeds from the units will be used to fund expenditures related to the development of the Goldboro open-pit project, as well as for general corporate and working capital purposes.
The Goldboro Project consists of ~285km2 of prospective land within the Goldboro Gold District, representing the largest gold deposit in Nova Scotia. Located 175km east of Halifax, the project has the highest grade underdeveloped open pit reserve on the East Coast of Canada (Measured & Indicated: 2.58Moz @ 3.72g/t Au).
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