Heliostar Metals (HSTR.V) has already closed the bought deal financing that was announced just a week ago. The underwriters partially exercised their greenshoe option which allowed the company to raise C$19.5M by issuing 19.5M shares (this was a warrant-free financing). Eric Sprott subscribed for 5 million shares (C$5M) and this increases his stake to almost approximately 13.5% of the current share count or just under 245M shares.
This financing puts Heliostar on much stronger footing and will allow the company to advance its projects on multiple fronts. Ana Paula will be the subject of another drill campaign while the additional cash could also bring the reopening of the San Agustin mine forward.
We published our Ana Paula site visit report earlier this month and will publish a report on the producing La Colorada gold mine in Sonora in the near future.
Disclosure: The author has a long position in Heliostar. Heliostar is a sponsor of the website. Please read the disclaimer.
