3 Non-Brokered Financings You Need to Know About (Aug. 9-13)

Amid the summer doldrums, private placements have been a bit slower than usual, but that doesn't mean there aren't deals worthy of your attention. Here are three non-brokered financings announced this week you should be paying attention to.

1. Stelmine Canada Ltd. (TSX-V: STH) 

• Gross Proceeds: $3.25 million
• Sector: Precious metals
• Units issued: 13 million
• Type: Special units
• Price: $0.25
• Warrants: Half; $0.35; Three years
• Agents: Non-brokered
• Use of Proceeds: Ongoing exploration

Company breakdown:

• Junior Québec mining company with projects four properties in the province
• Proceeds will be used for exploration on its Courcy and Mercator properties
• At Courcy, 2006 drilling returned 42 metres of 4.2 g/t Au
• At Mercator, a recently completed geophysical survey uncovered a potential large-scale gold system
• Shares of the company have risen 3.5 cents since announcing the private placement to close at 26.5 cents on Friday

2. Western Magnesium Corp. (TSX-V: WMG)

• Gross Proceeds: $2.12 million
• Sector: Magnesium
• Units issued: 4.35 million
• Type: Special units
• Price: $0.55
• Warrants: Full; $0.65; 18 months
• Agents: Non-brokered
• Use of Proceeds: Working capital and pilot plant

Company breakdown:

• Magnesium company whose shares recently began rising after it began testing a proprietary pilot reactor to produce magnesium metal
• The plant is designed to produce 99.9% pure magnesium with low labour and energy costs and no toxic byproducts
• Previously was located in BC, but recently relocated to the US
• Shares have fallen 15 cents since announcing the private placement to close at 60 cents on Friday

3. Core Assets Corp. (CSE: CC)

• Gross Proceeds: $605,000
• Sector: Precious & base metals
• Units issued: 11 million
• Type: Special units
• Price: $0.055
• Warrants: Half; $0.25; Two years
• Agents: Non-brokered    
• Use of Proceeds: Ongoing exploration

Company breakdown:

• Precious and base metals junior explorer focused on the Blue property project in BC's Atlin mining district
• Recently completed a field work program at Blue, including grab samples and a geophysical survey
• Proceeds will go toward exploration at Blue
• Shares have risen half a cent since announcing the private placement, to close at 8 cents on Friday