Saturday, April 17, 2010

Terrane Metals (CDNX:TRX.V) Raises C$100 Million

Terrane Metals (CDNX:TRX.V) reported Friday that they've closed two financings which raised C$100-million for them.

Goldcorp (TSE:G) had a private placement worth C$30-million, while Terrane raised the other C$70-million financing via a non-brokered bought deal. Goldcorp is the largest shareholder in the company.

Terrane said they'll use the funds at its flagship Mount Milligan gold/copper project, which is scheduled for construction in 2010.

There are about 6 million ounces in gold reserves at their flagship mine, and an estimated 2.2 billion pounds of copper reserves.

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