First tranche closed, new goal now 14,75 million C$
Gold exporter Goliath Resources (TSXV GOT / WKN A2P063) is now looking to raise 14.725 million dollars with the previously announced flow-through financing! Obviously, major investors are lining up for the company’s shares, which is currently working with eight drill rigs on its Golddigger project.
Strategic investor Crescat Capital, for example, has been involved for some time, while a global commodity group from Singapore only recently got on board. This group has now completed the acquisition of its shares, after increasing its allotment, and now holds a 3.5% stake in Goliath.
3.8% of Goliath’s shares are now held by mining legend and mining investor Rob McEwen, who just yesterday announced that he has acquired a further 800,000 Goliath shares. In the current increase in the placement, announced today, Mr. Larry Childress has now also come on board as a strategic investor. He is acquiring 1 million Goliath shares through the vehicle Childress Family LP.
Mr. Childress founded an oil exploration company in the 1980s that discovered several large oil fields in western Kansas. Since then, for more than 40 years, Mr. Childress has invested in exploration projects at all stages of development. For example, he is currently the second largest shareholder in Fireweed Metals after the Lundin family, holding 22 million shares in the company. His other major investments include Filo and Hercules Metals. Mr. Childress was also the second largest shareholder in Noront Resources when it was acquired by Wyloo for well above market value at ~$637M.
In any event, Goliath has now closed a first tranche of the financing totaling CAD 9,562,308, consisting of charity flow-through shares at CAD 1.975 per share and flow-through shares at CAD 1.44 per share. Goliath does not need to issue warrants, though, due to the high demand for its shares. Ultimately, the financing is expected to raise CAD 14.75 million for the work on Golddigger, up from CAD 12.75 million previously announced.
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