https://www.northernontariobusiness.com/
September is a pivotal month for Red Pine Exploration in seeking to raise $9.5 million
Red Pine Exploration needs a fresh infusion of cash, quickly, to kickstart a drilling program at its Wawa Gold Project. The struggling Toronto junior miner is out of pocket and is looking to raise $9.5 million this fall in order to regain the confidence of the market and lay out the big picture of what a mining operation might look like down the road.
In a Sept. 4 webinar, new CEO Michael Michaud projected confidence and enthusiasm in selling the blue-sky potential of its gold deposit, two kilometres outside Wawa.
In lobbying to restart drilling activity that was halted in mid-May in the wake of an assay manipulation scandal, Michaud said the project is at a point where they have to show its full potential and take it forward to a development stage. That means “drilling and adding value as quick as we can.”
Michaud joined Red Pine in July after heading up exploration efforts at Wesdome Gold Mines. The company posted a new gold resource estimate late last month showing a million ounces has been gained since the last gold count in 2019.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/urgent-cash-call-needed-for-wawa-gold-explorer-9495718