{"id":1161340,"date":"2020-01-22T14:59:23","date_gmt":"2020-01-22T20:59:23","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011957"},"modified":"2020-01-22T14:59:23","modified_gmt":"2020-01-22T20:59:23","slug":"palladium-miner-generation-minings-stock-soars-on-sprott-investment","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1161340","title":{"rendered":"Palladium miner Generation Mining\u2019s stock soars on Sprott investment"},"content":{"rendered":"<p>Toronto-based Generation Mining (CSE: GENM) <a aria-label=\"announced on Wednesday (opens in a new tab)\" href=\"https:\/\/genmining.com\/news\/news\/2020\/generation-mining-announces-c-8-million-bought-deal-private-placement-of-units-including-a-c-5-million-investment-from-eric\/\"  rel=\"noreferrer noopener\">announced on Wednesday<\/a> it has arranged a bought deal private placement with a group of underwriters, offering approximately 15.38 million units of the company at C$0.52 per unit to raise total proceeds of C$8 million.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\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>Each unit comprises one common share in the capital of Generation Mining and one-half of one common share purchase warrant. Each full warrant shall be exercisable to acquire one common share at a price of C$0.75 for a period of 24 months from the placement closing date.<\/p>\n<p>Canadian investor Eric Sprott has agreed to purchase C$5 million of the offered units. Upon completion of the offering, Sprott would own approximately 8.84% of Generation Mining on a non-diluted basis and 12.70% on a partially diluted basis.<\/p>\n<p>Net proceeds from the offering will be used for exploration and development activities at the company&#8217;s Marathon palladium project in Ontario. The property &#8212; located 215&nbsp;km east of Thunder Bay and 10&nbsp;km north of Marathon &#8212; was developed from 1985 to 2010 by various companies and was eventually owned by Marathon PGM Corporation. The property was later acquired by Sibanye-Stillwater. Generation Mining currently holds a 51% interest in the project.<\/p>\n<p>Shares of Generation Mining rose by more than 12% at midday Wednesday, at one point reaching an all-time high of C$0.74 a share. The company&#8217;s market capitalization is approximately C$65 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company&#8217;s stock reached an all-time high on the news.<\/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":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161340"}],"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=1161340"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161340\/revisions"}],"predecessor-version":[{"id":1161379,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1161340\/revisions\/1161379"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1161340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1161340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1161340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}