High times for the junior mining industry in Canada, as Longueuil, Quebec-based Azimut Exploration Inc. (TSX-Venture: AZM) announced Wednesday the completion of a non-brokered private placement of $6,000,000 of flow-through shares at $2.45 a pop.
Azimut plans to use the proceeds to incur eligible Canadian exploration expenses with a focus on its 100%-owned Elmer Gold Property.
Azimut is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMine expert system) enhanced by extensive exploration know-how. Azimut, today’s news release points out, "maintains rigorous financial discipline", and has 60.6 million shares outstanding.
AZM shares neared noon Wednesday up 20 cents, or 13.6%, to $1.67.
