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Regulus Resources Raises

More interesting than Centerra and Thompson Creek (two wrongs do not make a right) is this end-day NR, with Regulus Resources (REG.v) set to pull in a touch over CAD$11.5m in gross proceeds (maybe $10.8 net) via this placement at $1.20:

Regulus Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. and PI Financial Corp. (together the "Agents") to raise aggregate gross proceeds of up to $10.02 million through the issuance of up to 8,350,000 units of the Company ("Units") at a price of $1.20 per Unit (the "Offering Price") on a commercially reasonable efforts private placement basis (the "Offering"). Each Unit shall consist of one common share and one-half of one transferable common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share (a "Warrant Share") at a price per Warrant Share of $1.60 for a period of 42 months from the date of issuance. The Company will also grant the Agents an option (the "Agents' Option"), exercisable in whole or in part by giving notice to the Company at any time up to 48 hours prior to the closing date, to sell up to an additional 1,252,500 Units (the "Additional Units") at the Offering Price. Continues here.

That's a nicely timed raising at a non-dilutive price and more than enough cash to keep this company in drilling funds for this year and next. Worth considering today, as we start the third quarter of 2016, that at the start of the second quarter this stock was down at 32c and couldn't catch a bid in a bucket.