Sierra Iron Ore (NAA.V) announced it closed a second tranche of its PP for a total value of C$510,000 bringing the total proceeds of the offering at C$1.85M so far. Sierra issued 4.6M units at C$0.40, and expects to close another C$500,000 tranche for a total of C$2.35M. Each unit consists of one share and one-half of a warrant with a strike price of $0.55 and valid for two years.
Sierra Iron Ore has recently received the environmental permit to start its El Creston iron ore project in Mexico, and we’re looking forward to receive an update on the project and its anticipated economics.
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Disclosure: The author holds no position in Sierra Iron Ore. Please see our disclaimer for current positions.
