The good news keeps coming for companies looking for gold in central Newfoundland.
This time the news relates to New Brunswick-based company TRU Precious Metals Corp.
In a release on March 5, the company announced it had recently completed an oversubscribed offering with the lead order coming from Palisades Gold Corporation, as well as several other institutions in both Canada and the United States.
This offering is worth just over $3.5 million and will allow the company to make considerable headway in the provincial industry.
“We are well-positioned to enhance our growth and are excited to continue to build value for our enlarged shareholder base,” wrote TRU Precious Metals CEO Joel Freudman in a prepared statement.
The offering gives the company the necessary funding to carry out exploration and drilling programs with its properties in central Newfoundland.
It will allow the company to take a deeper look at its Golden Rose Project through a comprehensive exploration program.
Located in what has become known as the province’s gold belt, the project is located just south of Marathon Gold’s Valentine Lake project near Millertown.
The Twilite Gold Project, another of the TRU Precious Metals projects, will see the first phase of its defined drilling program start because of the completed offering.
The Gold Rose and Twilite projects are two of five properties in central Newfoundland owned by TRU. The others are Stony Lake and Rolling Pond, both south of Grand Falls-Windsor, and the Gander West property west of New Found Gold’s Queensway project.
“We’re pleased with the support,” said Freudman.
Nicholas Mercer writes from central Newfoundland.
