Midnight Sun Mining Secures $10 Million Financing Round, Expands Partnerships and Projects
23.05.2024 | NewsDirect
Midnight Sun Mining Director of Marketing and Communications Adrian O'Brien joined Steve Darling from Proactive to to announce the successful closure of a $10 million financing round, surpassing their initial target of $3.3 million due to high demand. This financing round follows their recent partnership with First Quantum and underscores their commitment to advancing two major projects.The first project centers on a significant copper oxide target, with the potential for near-term cash flow. Their partnership with First Quantum aims to leverage resources and expertise to advance this project efficiently. Additionally, Midnight Sun is collaborating with KoBold Metals on the Dumbwa project, targeting significant sulfide targets in the southeast region of their property.
KoBold Metals will fund approximately 10,000 meters of drilling within the next 4 to 6 weeks, focusing on two primary areas: Kazhiba in the northwest and Me Too in the southwest. These areas require extensive drilling, particularly Kazhiba, which necessitates around 150 shallow holes. The objective is to advance the oxide copper target with First Quantum's support and concentrate the material for further development.
Midnight Sun's success in securing significant financing and expanding partnerships underscores the quality of their projects in Zambia's highly prospective copper regions. With large deposits and favorable conditions, Midnight Sun is well-positioned to meet the growing global demand for copper, driving their projects forward with momentum and purpose.
Contact Details
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
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