The turmoil in the global economy owing to a range of factors over the course of the past months has made it mandatory for many investors to move into precious commodities in a big way and one of the commodities that is always in demand in such situations is gold. Hence, companies that are involved in gold exploration and mining have generated considerable interest among investors during this period.
The interest is still there and many investors are on the lookout for stocks in such companies every day. This morning investors could do well to take a look at the Adventus Mining Corporation (OTCMKTS:ADVZF) stock. The best way of going about it is by taking a closer look at the company’s operations and then checking out the latest developments which may have a bearing on the stock price.
Trading Data
On Thursday, ADVZF stock gained 2% to $0.3299 with more than 700 shares, compared to its average volume of 14K shares. The stock moved within a range of $0.3299 – 0.3299 after opening trading at $0.3299.
About The Company
The company is focused on copper and gold exploration and development activities in Ecuador. The company is the controlling shareholder in the Curipamba copper-gold project which spans an area of as much as 215 square kilometers. It should be noted in this regard that the company has already completed a feasibility study on the high-grade and shallow El Domo deposit.
However, that is not all, Adventus Mining Corporation had also formed an exploration alliance for the entire nation of Ecuador and that is something that investors ought to keep an eye on.
Adventus Mining Signs Definitive Financing Agreements with Trafigura to Secure up to US$55 million for El Domo – Curipamba Copper-Gold Project
On Thursday, Adventus Mining Corporation was actually in the news after it announced that it had been successful in getting into definitive agreements in relation to the Offtake Financing Agreement with Trafigura Pte Ltd. It is a major new development since, by way of this agreement, as much as $55 million is going to be invested towards the advancement of the copper-gold project at El Domo-Curipamba.
It goes without that it was a major new development for the company and one that could come as a major long-term boost as well. The latest development is a further development from the binding commitment that had been inked between the two entities back on January 17, 2022. At the time, Wheaton Precious Metals Corp had also committed financially to the project.
In this situation, it is perhaps also necessary for investors to take a look at the bigger picture. But way of the latest Offtake Financing Agreement, the company had managed to secure a possible $235.5 million for advancing and financing future construction of the El Domo Project.
Out of that, the company had only drawn $2.5 million up until now, and hence, it could be said that the runway for the financing is going to be significantly longer. It is interesting to note that Adventus Mining Corporation is currently in discussions with other entities for the purpose of securing as much as $40 million in the form of debt-based facilities. At this point in time, it may be a good idea for investors to add the Adventus Mining Corporation stock to their watch lists.
