Union files complaint against Orla Mining, alleging violation of worker rights in Mexico
The complaint is only the second of its kind made from Canada using CUSMA’s RRM process since the trade deal came into force in 2020.
O3 Mining (TSXV: OIII) has announced an increase in its bought deal public offering, now aiming to raise C$18.15 million ($13.3 million) due to high investor interest, up from C$15 million announced yesterday.
The company will issue 16.5 million units at C$1.10 per unit. Each unit includes one common share and half of a common share purchase warrant, allowing the purchase of an additional share at C$1.45 within 24 months.
The underwriters have an option to buy up to an additional approximately 2.5 million units, potentially raising an extra C$2.7 million. The funds will be used to develop O3 Mining’s assets in Quebec, along with general corporate expenses.
O3 Mining holds six properties in Quebec, with its flagship asset being the Marban Alliance. This property spans 2,189 hectares across 65 claims between Val-d’Or and Malartic. Exploration here dates back to 1940, with 14 companies having explored or mined the site before O3 Mining’s establishment in 2019.
Marban Alliance is projected to produce 161,000 ounces of gold annually and generate C$668 million in EBITDA over its first two years of production, assuming a gold price of $2,400 per ounce and a 10-year mine life.
