Nouveau Monde Mining Enterprises (NOU.V) has closed a private placement in December raising C$2.3M, and the company seems to be keen to put the funds immediately at work.
Nouveau Monde wants to update the resource estimate on the West zone by the end of the current quarter, and this update will include the assay results from the 2016 drill program (which totalled almost 6,400 meters in 38 drill holes). The focus will be on the West Zone, as NOU also wants to complete its metallurgical test work. This should allow the company to publish a pre-feasibility study by the end of the third quarter, and we’re obviously looking forward to see if the PFS can confirm the economics of the PEA which was published in 2016.
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The author has a long position in Nouveau Monde Mining. Please read the disclaimer
