RCF, BlackRock to invest in TMAC Resources' $90 mln offering
Toronto-based gold producer TMAC Resources Inc (TSX: TMR) has launched a $90 million offering that includes a $66.5 million private placement transaction. The private placement will be backed by the company's largest shareholders, U.S. mining private equity firm Resource Capital Funds (RCF), Newmont Mining Corp and an investment affiliate of U.S. asset manager BlackRock. TMAC, backed by RCF and Newmont when it went public in 2015, holds a 100 percent stake in the Hope Bay Property, a gold deposit located in Nunavut. It will use the offering's proceeds for debt repayment and Hope Bay-related exploration and capital expenditures.
20 September 2018•4 mins read
