Nevgold Corp (TSE:NAU) has released an update.
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NevGold Corp has successfully completed the first tranche of its convertible securities financing, securing C$3.5 million from Mercer Street Global Opportunity Fund II, LP. This funding will accelerate drilling activities at their Nutmeg Mountain and Limousine Butte gold projects, as well as further development at the Zeus copper project. The financing arrangement includes potential for an additional C$4.5 million in a future second tranche, subject to mutual agreement.
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