{"id":1172138,"date":"2020-03-17T15:46:02","date_gmt":"2020-03-17T21:46:02","guid":{"rendered":"https:\/\/www.mining.com\/?p=1017341"},"modified":"2020-03-17T15:46:02","modified_gmt":"2020-03-17T21:46:02","slug":"midas-gold-secures-35m-financing-from-paulson","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1172138","title":{"rendered":"Midas Gold secures $35m financing from Paulson"},"content":{"rendered":"<p>Midas Gold (TSX: MAX) has completed its previously announced <a aria-label=\"offering of senior unsecured convertible notes (opens in a new tab)\" href=\"https:\/\/www.midasgoldcorp.com\/investors\/news\/2020\/midas-gold-completes-us-35.0-million-c-47.6-million-financing\/\"  rel=\"noreferrer noopener\">offering of senior unsecured convertible notes<\/a> issued by a wholly owned subsidiary of the company, raising total gross proceeds of $35.0 million (C$47.6 million).&nbsp;<\/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>The notes are convertible into common shares of the company at a price of C$0.4655 per share. All of the notes were purchased by New York-based investment management firm Paulson &amp; Co. Inc., which currently holds an approximate 3.56% ownership in Midas Gold&#8217;s share capital and 44.43% on a partially diluted basis.<\/p>\n<p>With the financing secured, Midas Gold plans to use the proceeds to advance its flagship Stibnite gold project in Valley County, Idaho. Work would include permitting and feasibility studies.<\/p>\n<p>The project contains one of the largest gold reserves in the nation, capable of producing 337,000 ounces of gold per year.<\/p>\n<p>Shares of Midas Gold were up over 21% at market close Tuesday. The company has a market capitalization of C$115.4 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Midas Gold were up over 21% at market close Tuesday.<\/p>\n","protected":false},"author":5,"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":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1172138"}],"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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1172138"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1172138\/revisions"}],"predecessor-version":[{"id":1172151,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1172138\/revisions\/1172151"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1172138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1172138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1172138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}