Mining Legend Rob McEwen Increases Goliath Stake in Expanded Financing

Now Aiming to Raise 12.75 Million CAD

Originally, the gold explorer Goliath Resources (WKN A2P063 / TSXV GOT) intended to raise ‘only’ 10,116,750 dollars through a financing round consisting of so-called charity flow-through and flow-through shares for further exploration of the massive Golddigger gold project. However, it seems that interest is so high that they have now increased the offering!

In total, the company now aims to raise 12,750,000 dollars through a combination of charity flow-through shares at 1.975 CAD per share and flow-through shares at 1.44 CAD per share. (Charity and flow-through shares provide tax benefits to Canadian investors.) With this, Goliath is responding to the ongoing success in exploring the Golddigger property, particularly the Surebet discovery made there, where they are now active with eight (!) drilling rigs.

Mining Investor Rob McEwen Purchases Additional 800,000 Goliath Shares

Interestingly, according to Goliath, in addition to a strategic, globally active commodity group from Singapore, mining legend Rob McEwen has also agreed to expand his stake in the company by 800,000 shares. This means that after the financing is completed, the mining entrepreneur will hold 3.8% of CEO Roger Rosmus’s company.

One might complain that more and more new Goliath shares are being issued, but in the current market environment, where it’s still extremely difficult for many explorers to obtain fresh capital, we believe it’s good that Mr. Rosmus is ensuring his company is well-financed. Especially since this year’s drilling program once again demonstrates that Golddigger is a true ‘monster’ of a gold project. We are now eagerly awaiting the next news from the field!

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