EDISON EQUITY RESEARCH: TRUE NORTH GEMS - FUNDED THROUGH TO PRODUCTION
October 06 2015 - 7:01PM
InvestorsHub NewsWire
EDISON EQUITY RESEARCH: TRUE NORTH GEMS - FUNDED THROUGH
TO PRODUCTION
True North Gems (TGX) has secured C$5.3m via a share subscription
agreement with Greenlandic private equity/venture capital firm
Greenland Venture (GV). This financing effectively completes
Aappaluttoq’s mine construction financing, paving the way to first
production (expected Q415). A key near-term catalyst remains –
sales agreements for Aappaluttoq’s ruby/pink sapphire output – the
first of which are expected by year end.
True North Gems is developing its 85.4%-owned (65% on completion of
the mine by its JV partner LNSG) and exploitation (mining)
permitted Aappaluttoq ruby and pink sapphire mine in Greenland.
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