Black Mammoth Metals Closes $24M Private Placement at $3.00 Per Unit
LQRCF has more than doubled off its 52-week low of $1.26 on light trading volume (0.2× avg).
Summary
Black Mammoth Metals closed a $24M private placement, issuing 8M units at $3.00 each—a premium to the current $2.68 market price, signaling strong investor demand. Each unit includes a half-warrant with a $4.00 strike, providing additional upside if shares rise. Proceeds fund drilling across its extensive Nevada and Western US gold-silver portfolio, including the recently identified 305 Proper target. No commissions or insider participation keeps the structure clean. This capital injection materially strengthens the company's exploration runway without dilutive discounts.
At the time of this announcement, LQRCF was trading at $2.68 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $122.8M. The 52-week trading range was $1.26 to $5.67. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.