Plata Latina Minerals Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider : Reuters Investment Profile
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Plata Latina Minerals Corp announces C$1.2 mln private placement
Plata Latina Minerals Corp:Has arranged for non-brokered private placement of up to 12 mln units (Units) at price of C$0.10 per unit.Says for gross proceeds of up to C$1.2 mln.Each Unit comprises of one Plata Latina Common Share and one half of one common share purchase warrant.Each whole Warrant entitles the holder to purchase one additional Share at price of C$0.25 per Share for a period of two years following the close of the transaction.Net proceeds from financing will be used for next drill program at Naranjillo, where discovery is already in progress.Drill program contemplates six holes (4,750 metres) to optimize orientation of subsequent drilling for resource definition.Drilling at Naranjillo, which is located about 35 kilometres from Guanajuato and on same structural trend that hosts Guanajuato's veins, has identified a target having geology identical to that hosting Guanajuato's Veta Madre ore bodies.Planned drilling is therefore set to explore both Guanajuato Veta Madre-style setting as well as neighbouring veins.Proceeds will also be used for general corporate purposes.
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