The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.
Britain’s Royal Bank of Scotland said it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies.
However, the Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 8% in the three months to March 2018.
The Association of Mineworkers and Construction Union (AMCU) said the company failed to take precautions two avoid injuries at its mines earlier this week.