Integra Mining

Integra Mining announced it would raise $25m by issuing new equity at 29c a share. The capital raised will be used to fully repay an $8.5m loan and to fund further drilling. Just before the capital raising Integra had $12m in cash, low debt and was expected to generate $50-60m in operating cashflow this year. So why raise capital? Mechanical problems will result in higher cost production in the short term and, as costs this quarter soar to $1,400 an ounce, operating cashflow will fall. In most cases, lower operating cashflows would simply result in a delay to the...

Integra Mining announced it would raise $25m by issuing new equity at 29c a share. The capital raised will be used to fully repay an $8.5m loan and to fund further drilling.

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