La Mancha Resource Fund Acquires Strategic Stake in Miata Metals
The La Mancha Resource Fund is set to acquire an approximate 19.9% stake in Miata Metals (MMET.V) through a private placement of around 31 million common shares, generating C$12.7 million in gross proceeds for the company. This investment coincides with a separate brokered bought deal offering raising another C$7.5 million, bringing total financing to approximately C$20.2 million. The transaction will make La Mancha Resource Fund Miata's largest shareholder and grant it customary investor rights including participation privileges and potential board representation. The fund views the Guiana Shield region—where Miata’s 215km² Sela Creek project is located—as a highly prospective but under-explored gold area. La Mancha expressed confidence in Miata Metals' management team and progress at Sela Creek, where drilling has identified mineralization across multiple zones. The investment aims to accelerate exploration efforts and assess the broader potential of the site.
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