Banyan Gold - New Strategic Investor, $14.5 Million Financing, Updates on Drilling and Valuation
Tara Christie, President and CEO of Banyan Gold (TSX.V:BYN - OTCQB:BYAGF) joins me to discuss the recently announced $14.5million financing with a strategic investor, at a premium to market. The Company will use the funds to advance the AurMac Gold Project in the Yukon, that holds an over 7million oz gold (inferred) deposit.
Initially focusing on the strategic investment, Tara highlights the confidence this brings from high-caliber investors and details the expected spending on project advancements. Tara also explains how the financing terms are favorable and, since it is mainly flow-through dollars, will be used to advance the project.
Looking ahead, Tara outlines the drilling program set to commence in April, aiming to hit high-grade targets and support infrastructure for the project's Preliminary Economic Assessment (PEA) expected in Q4.
The discussion also covers the company's valuation, noting that despite having over 7 million ounces of gold in the ground, Banyan's market valuation is around $70 million CAD, with around $10 million in the bank before the new investment. Tara addresses past region-specific challenges, expressing optimism about future prospects and improving sentiments.
If you have any follow up questions for Tara please email me at Fleck@kereport.com.
