Metallic brings Newcrest on board for Colorado copper project

Exploration and development company Metallic Minerals has raised C$6.3-million from Australia-headquartered Newcrest Mining, which made a 9.5% strategic equity investment in the junior. Metallic issued Newcrest 15 838 593 units at a price of C$0.40 each.

The company said it would use the proceeds from the placement to advance exploration on, and for acquisitions related to, the La Plata copper and silver project,  located in Colorado, US.