According to news from KITCO and other websites, VanGold Mining Corp. of Canada has successfully secured US$16.95 million in private equity and welcomed 3 new shareholders: Endeavour Silver Corp., Victors Morgan Group (VBS Exchange) Pty., Ltd.) and the well-known investor Eric Sprott (Eric Sprott).
Canadian Pan-Gold Mining Company is an exploration company that mainly operates silver and gold mining projects in the Guanajuato region of central Mexico. The El Pinguico silver and gold project, located 7 kilometers south of Guanajuato City, is the company’s key project.
Endeavour Silver Corp. (Endeavour Silver Corp.) is a precious metals company that operates three pit-mined silver and gold mines in Mexico. In December 2020, after the company completed the acquisition of the El Cubo mine and processing plant, it became the largest shareholder of Panjin Mining Company, owning approximately 11.3% of the shares. Victors Morgan Group is an Australian company engaged in the development of gold mines and now owns approximately 5.5% of the shares of Panjin. Mr. Eric Sprott (Eric Sprott) is a well-known and influential leader in the resource investment industry. He has invested 2 million US dollars through private equity. Now he owns about 3.5% of the Panjin company. Shares.
Pan-Gold Mining Company stated that the funds from the private placement are mainly used to purchase and refurbish the materials and equipment of the Aigubo mine and processing plant, to carry out necessary exploration and drilling work for the Aigubo mine and the Aiyingge high mine, and to use it for General company capital expenditure and working capital expenditure.