Gold miner Yamana Gold has invested C$4.2-million in Monarch Gold, an emerging miner with projects in the Abitibi mining camp in Quebec.
Yamana invested in Monarch as part of the junior’s C$5.42-million private placement, which also involved fellow-listed Alamos Gold and other investors.
Monarch issued 22 582 500 shares at C$0.24 a share and 11 291 250 warrants, with each warrant entitling the holder to purchase one share at $0.29 apiece until June 10, 2023.