Sign in Subscribe
Mining industry

Paramount Gold Mining Corp. Sees Over-Subscribed Financing, Signals Strong Investor Confidence

Strategic Insights

— 2 min read

Wall Street News Alert, a division of Wall Street Capital Funding LLC, has named Paramount Gold Mining Corp. (OTC: PGDP) as one of its "stocks to watch" following the successful closing of its private placement financing for $817,750 at $1.26 per share. The financing was over-subscribed by $67,750, indicating strong investor confidence in the company.

Chris Crupi, Paramount's President, expressed the company's satisfaction with the closing of the financing, citing the substantial premium to the current market price as a strong vote of confidence in the exploration team and projects. The funds will be used to commence an aggressive drill program at San Miguel in early 2006, and to fund additional property acquisitions.

Paramount Gold Mining Corp. is a precious metals exploration and development company, with a focus on growing into a significant gold and precious metals producer by developing the San Miguel and Linda projects in Mexico and Peru.

Key Takeaways:

  • Paramount Gold Mining Corp. has seen its private placement financing for $817,750 at $1.26 per share successfully closed, with an over-subscription of $67,750.
  • The financing is a result of Haynes Capital Corp.'s arrangement and is a testament to the strong investor confidence in the company.
  • The funds will be used to commence an aggressive drill program at San Miguel in early 2006, and to fund additional property acquisitions.
  • Paramount Gold Mining Corp. is a precious metals exploration and development company, with a focus on growing into a significant gold and precious metals producer by developing the San Miguel and Linda projects in Mexico and Peru.
  • The company has a plan to use the funds to commence a drill program at the Linda Property in Peru, in partnership with Minera ABX Exploraciones, a subsidiary of Barrick Gold.
  • Have you received any unsolicited faxes from companies? Wall Street News Alert advises not to contact them.

Statistics:

  • The private placement financing was over-subscribed by $67,750, indicating strong investor confidence in the company.
  • The funds raised will be used to commence an aggressive drill program at San Miguel, with a focus on growing into a significant gold and precious metals producer.
  • The drill program will be conducted in early 2006, with the intention of expanding the company's operations in the prolific precious metal districts in the world.
  • Barrick Gold, a major player in the precious metals industry, is a partner in the Linda Property project in Peru.

Sources:

  • Wall Street News Alert's release announcing the closure of Paramount Gold Mining Corp.'s private placement financing, dated December 15, 2005.
  • Paramount Gold Mining Corp.'s press release announcing the closure of the private placement financing, dated November 3, 2005.
  • Wall Street News Alert's daily commentary, dated December 15, 2005.
  • Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 11-22-2005 for BR @ $72.87.
  • Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 09-12-2005 for C @ $46.02.
  • Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-23-2005 for GE @ $35.36.

Read more