Atna Resources (T.ATN) pays off bond offering and shares climb 40%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| January 2, 2014


Atna Resources (TSX:ATN, StockForum), a Golden Colorado-based company engaged in exploring, acquiring, developing and mining precious metals, uranium and other mineral properties, announced today that the company had made the final payment on their 10% guaranteed gold participating bonds.

 

The company intended to turn up the volume on operations at Briggs Mine with the US$14.5 million facility arranged back in December 2009.

 

Briggs Mine, located in Inyo County, California, will be an object of focus in the upcoming year as Atna will concentrate on gold production and cash flow at the mine.

 

Atna will also spend 2014 reducing corporate operating costs and bringing down debt levels with directors taking 100% compensation in Restricted Stock Units (“RSU”) and executives accepting 20% of their salary in RSUs.

 

According to the news release, Daniel Saint Don, will not be kept on as COO due to reduced development activity planned for the coming year.

 

Atna was in the news recently when the company completed an amendment to their Sprott Credit Facility.

 

Shares rose 40.91% on the news to $0.155 per share.

 

Currently there are 189.3m outstanding shares with a market cap of 29.3 million.


Tags: GOLD

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