The Company intends to use the net proceeds of the Offering to partially repay the amount outstanding under its credit facility with Sprott Resource Lending Partnership.
Tensions had been growing since November when the dissidents called for removal of Oremex directors due to inadequate oversight and mismanagement of the company.
Over 1.6 million shares of Mason Graphite(TSX.V: LLG) traded Thursday after the company released an updated mineral resource estimate for its 100% owned Lac Guéret Graphite Project in northeastern Quebec.
Existing infrastructure at Caribou includes a 3,000 tonne per day (tpd) processing plant along with a geochemical laboratory and tailings treatment facility.
Since its shares began trading on the Venture exchange in May, Castle Mountain Mining (TSX.V: CMM) has been working to fast track its namesake project back to a production-ready stage.
The results of the 2013 drill program were successful in extending mineralization along strike by an additional 850 meters and further confirming continuity.