Tuesday, November 09, 2021
FenixOro Gold (FDVXF)
Drilling Activity Expected to Accelerate into 2022
FenixOro Gold Corp is a Toronto based company acquiring and exploring high grade gold projects in Colombia. The company’s flagship Abriaqui Project is the nearest exploration project to Continental Gold’s Buritica Mine.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Private placement. FenixOro expects to raise gross proceeds in the amount of C$3,000,000 with the private placement of units priced at C$0.31 per unit and consisting of one common share and one whole common share purchase warrant. For a period of two years from the date of issuance, each warrant is exercisable at a price of C$0.34 for one common share. All securities issued are subject to a hold period of four months and one day. Closing is expected to be completed on or about November 15, 2021. In our view, the placement is priced on favorable terms considering the full purchase warrant.
Momentum building. Financially, both the company’s August 2021 quarter expenses and the sizing and terms of the private placement terms were in line with previous assumptions. The company will use the net proceeds to expand and accelerate its Phase 2 drilling program at the Abriaqui gold project by adding one or two drill rigs, identifying and drilling new discovery targets, and accelerating …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
