Most recently many precious metals exploration companies take advantage of the last rally in gold and silver to sell its shares through private placements, bought deal financing etc.
I understand it. After many years of a bear market in gold most of explorers are short of cash so the current situation presents an opportunity to improve the cash balances.
Integra is no exception. At the end of 2015 the company had 426.3 million shares outstanding (fully diluted).
Now, after a few bought deals and private placements, the share count stands at 498.0 million at least (this number may increase due to the agreements with underwriters). During a few months the company was able to increase its share count by 16.8%.
According to my calculations the gross proceeds should stand at C$55.5 million (this figure also comprises the gross proceeds obtained through exercising all warrants issued by the company).
Now the company is fully financed to start its exploration program at Triangle (with the budget of C$26 million). What is more, I expect Integra to announce the additional exploration programs or even new acquisitions (or to increase the company's stake in Eastmain Resources).
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