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Baker Steel Resources agrees to invest USD 3 million into Azarga Metals

Mining News - Published on Mon, 18 Feb 2019

Image Source: Proactive Investors
Baker Steel Resources Trust Ltd said that it has agreed to invest USD 3 million into Canadian mineral exploration firm Azarga Metals Corp. Baker Steel agreed to make the investment in three tranches, via a four year convertible loan with an 8.0% per annum interest rate and conversion price of CAD0.14 per share.

The company said Azarga Metals plans to use the proceeds to undertake a second-phase drilling and exploration programme to increase the existing resource estimate of its Unkur copper-silver project, in Russia.

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Posted By : Rabi Wangkhem on Mon, 18 Feb 2019
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