Hot on the heels of a late October $35-million deal with mining giant Agnico-Eagle, Queenston Mining has announced an agreement for an additional $20 million through a guaranteed private placement.
The 3 million flow-through shares will be offered to accredited Ontario investors at a price of $6.70.
The move will bring Queenston's working capital to $90 million, which will be used on further high-level exploration and development of its gold projects in Kirkland Lake.
Currently, Queenston has 14 drills turning across five properties, and intends to spend $20 million on exploration in the coming year.
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