The Prospector News

Aldebaran Announces Closing of Strategic Investment by South32

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Aldebaran Announces Closing of Strategic Investment by South32

 

 

 

 

 

Aldebaran Resources Inc. (TSX-V: ALDE) (OTCQX: ADBRF), is pleased to announce it has completed its previously announced non-brokered, $14.43 million private placement, led by a strategic investment from a wholly-owned subsidiary of South32 Limited (see news releases dated July 20, 2022 and August 5, 2022).

 

South32 acquired 13,700,000 common shares at a price of $0.78 per Common Share for total proceeds of $10,686,000. Route One Investment Company LLC, Aldebaran’s largest shareholder, partially exercised its participation right and acquired 4,800,000 Common Shares at a price of $0.78 per Common Share for total proceeds of $3,744,000. The Common Shares issued pursuant to the offering will be subject to a hold period expiring on December 13, 2022 in accordance with applicable securities laws.

 

Aldebaran intends to use the funds to advance the Altar copper-gold project located in San Juan, Argentina, and for general corporate purposes.

 

About Aldebaran Resources Inc.

 

Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran has the right to earn up to an 80% interest in the Altar copper-gold project in San Juan Province, Argentina from Sibanye Stillwater Limited. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porphyry copper deposits which includes Los Pelambres (Antofagasta Minerals), El Pachón (Glencore), and Los Azules (McEwen Copper). In March 2021 the Company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the drilling completed up to and including 2020.

 

Posted August 16, 2022

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News