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Bravada Announces Non-Brokered Private Placement to Advance the Wind Mountain Au/Ag Project to Pre-Feasibility
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Bravada Gold Corporation (TSXV: B...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada Announces Non-Brokered Private Placement to Advance the Wind Mountain Au/Ag Project to Pre-FeasibilityVancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Bravada Gold Corporation (TSXV: BVA) (OTC Pink: BGAVF) (FSE: BRTN) (\"Bravada\" or \"Company\") plans to issue up to 33,000,000 units (\"Units\") in a non-brokered private placement at a price of $0.03 per unit for gross proceeds of $990,000. Each unit consists of one common share and one share purchase warrant, exercisable to purchase one additional common share at a price of $0.05 for 3 years. The Company will make provision for an over-allotment option (Greenshoe) to allow a purchase of up to 10% additional Units beyond the number of Units in this private placement.Net proceeds from the private placement will be used to conduct a Pre-feasibility Study (\"PFS\") of the Wind Mountain gold/silver deposit in NW Nevada (approximately 60%). Net proceeds will also cover Annual Federal claim-holding fees (17%), and general working capital (approximately 23%, with 14% of general working capital payable to non-arm's length parties). No amounts are proposed to be spent on investor relations activities.Bravada's 2022 Preliminary Economic Assessment (\"PEA\") demonstrated favorable economics for an open-pit mining operation utilizing a limited heap-leach pad for a portion of the Pit-delineated Indicated Resource as a Phase I operation and is summarized below. Subsequent studies identified a larger Phase II heap-leach pad site for the remainder of the Indicated Resource and potentially additional near-surface, oxide gold mineralization that, with further delineation drilling, could be added to the Phase II pad to extend mine-life. President Joe Kizis commented, \"The Company believes a dramatic increase in precious metal prices and a more favourable permitting environment in the U.S. justify advancing Wind Mountain to the PFS stage. Indicated Resource that is shown to be economic via a PFS will be reclassified as more valuable Probable Reserves, which should add value to the Company. A PFS-level mine plan and economic study are required to begin mine-permitting in Nevada.\"Summary of the 2022 Wind Mountain PEAEarly in 2023 Bravada filed a technical report (the \"Report\") prepared in accordance with Canadian Securities Administrators' National Instrument 43-101 (\"NI 43-...