Balmoral has a land package next to Detour Gold, which is a 28 million Au ounce deposit. Detour expects to go online in the first quarter of next year. They publicly announced that all high grade gold projects within a ratio of 45 km from their mill would be of high interest for them. While they were fully funded according to a recent news release, and announced to be two months ahead of schedule, they now seem to have needs for $ 100 million additional capital. See below details of the announcement of a bought deal this morning.
Detour Gold Corporation (DGC.TO) ("Detour Gold" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets, under which the underwriters have agreed to buy 4,000,000 common shares of the Company ("Common Shares") at a price of C$26.50 per Common Share, representing aggregate gross proceeds of C$106,000,000.