North American Palladium is winning fans for plans to add gold production from its current corporate focus on from all-palladium, all the time.
The junior mining company picked up a new gold property in Quebec earlier this week from Agnico-Eagle Mines. That project was added to two existing properties that produce palladium , a metal that's only of value to automakers.
On Thursday, North American Palladium filled its coffers by staging a bought deal financing that was bumped up to $87-million from $75-million in the face of strong demand.
Cormark Securities and Haywood Securities, employee-owned dealers, led the financing. It's the latest in a string of stock sales from small-cap resource companies.
North American Palladium sold units for $5 each that consist of a common share and half a warrant. One full warrant gives the holder the right to buy a share for $6.50.