{"id":1146470,"date":"2019-10-29T13:10:57","date_gmt":"2019-10-29T19:10:57","guid":{"rendered":"https:\/\/www.mining.com\/?p=1005495"},"modified":"2019-10-29T13:10:57","modified_gmt":"2019-10-29T19:10:57","slug":"palladium-one-secures-3-2-million-financing-as-metal-price-hits-record-high","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1146470","title":{"rendered":"Palladium One secures $3.2 million financing as metal price hits record high"},"content":{"rendered":"<p>Palladium One Mining (TSXV: PDM) <a rel=\"noreferrer noopener\" aria-label=\"announced Tuesday (opens in a new tab)\" href=\"https:\/\/www.palladiumoneinc.com\/news\/2019\/palladium-one-announces-a-cdollar32-million-non-brokered-private-placement-as-palladium-prices-reach-record-high-of-usdollar1808-per-ounce\" >announced Tuesday<\/a> that it will undertake a private placement offering to raise up to C$3.2 million, which will be used for exploration activities on its palladium-dominant LK project in central Finland and its Tyko sulphide nickel project in Ontario.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The offering comprises up to 53 million units of Palladium One at C$0.06 a unit, with an over-allotment allocation of up to 15% of the total offering. Canadian mining investor&nbsp;Eric Sprott&nbsp;is expected to participate in the offering in an amount equivalent to providing a 19.99%, non-diluted ownership interest in the company&#8217;s issued and outstanding common shares.<\/p>\n<p>Shares of Palladium One jumped more than 14% at market open, at one point trading at a two-month high of C$0.085. The company has a market capitalization of approximately C$3.1 million.<\/p>\n<p>The financing announcement comes as price of palladium metal reached a record high of $1,808\/oz a day earlier, due to persistent supply deficits and as a direct consequence of higher demand from stricter auto emission standards and the migration away from diesel-powered vehicles.<\/p>\n<p>According to Palladium One president and CEO&nbsp;Derrick Weyrauch, the company is now \u201cwell-positioned as a strategic metal provider for cleaner air.\u201d<\/p>\n<p>\u201cThe proceeds will allow us to focus on increasing our existing palladium mineral resources at our LK project through new discoveries and step-out and infill drilling,\u201d he added.<\/p>\n<p>After closing the financing, the plan is to conduct high-resolution IP geophysics and then initiate a 5,000-metre diamond drill program as soon as practical. Planning is underway, the company says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Palladium One jumped more than 14% at market open.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1146470"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1146470"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1146470\/revisions"}],"predecessor-version":[{"id":1146550,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1146470\/revisions\/1146550"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1146470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1146470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1146470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}