Aquitaine raises $33M to accelerate gold and critical metals drilling in France
What's the deal? Aquitaine MetalsDealroom has a profile for this one. Try Dealroom → has closed a C$45,149,440 non-brokered private placement, issuing 8,208,989 common shares at C$5.50 each. The Vancouver-based explorer will direct most of the proceeds toward expanding drilling at its Limousin Gold and Critical Metals Project in Nouvelle-Aquitaine, France.
Why now? Aquitaine is preparing to scale up work at Limousin, with the majority of the funds earmarked for more drill rigs and more metres drilled. Remaining proceeds may fund working capital, technical infrastructure, research programs, and hydrogeological, environmental, and community engagement.
Who's in? Existing shareholders supplied roughly half the financing, alongside new institutional investors from France, elsewhere in Europe, South America, and North America. The raise leaves Aquitaine with about 45.9 million shares outstanding.
What's the endgame? "Our priority now is to increase our drill rig count, significantly increase the number of metres drilled and systematically advance the many compelling targets across the Project," said chief executive officer Chris Taylor.
New faces: Aquitaine added Lyle Braaten to its board and named Max-Julian Vignaud as vice president, public and environmental affairs. Braaten is a Canadian mining executive and lawyer with more than 30 years in natural resources, currently senior vice president, legal at Lumina MetalsDealroom has a profile for this one. Try Dealroom →; Vignaud brings environmental and regulatory experience across Europe.
The signal: At about $33 million, the round ranks in the 97th percentile of all-time early-stage venture rounds in Canada, a sample of 2,049 deals. That places a modest gold and critical metals explorer among the country's largest early rounds — and reflects investor appetite for European critical-minerals supply.
Read more: finanznachrichten.de
Image credit: James St. John
