Two Juniors Announce Significant Financings Following Promising Developments

Power Metallic Mines Inc. (PNPN.V)

PR Title: Announces a $50M private placement

Analyst Opinion: Positive – This significant financing follows a series of encouraging drill results from the polymetallic Lion zone (Quebec). Proceeds from the current raise will fund aggressive follow-up drill programs. The property contains two primary zones of mineralization: the nickel-rich Nisk Main deposit, which hosts a mid-sized, high-grade resource of 178 Mlbs NiEq, and the recently discovered high-grade Lion zone. Shares are up 626% YoY, largely driven by the excitement surrounding the recent discovery.

Denarius Metals Corp. (DMET.NE, DNRSF)

PR Title: Announces a $4.5M private placement

Analyst Opinion: Positive – Proceeds will primarily be directed toward the Lomero, Toral, and Aguablanca projects in Spain. Certain insiders will likely commit $1M, sending a positive signal to the market. As mentioned in our note last week, Trafigura Pte. Ltd., a leading global commodity supplier, has offered a US$9M prepayment financing to fully fund construction activities at DMET’s Zancudo gold-silver project in Colombia. Production is expected to begin in the coming weeks.

Churchill Resources Inc. (CRI.V, CRICF)

PR Title: Identifies nickel and cobalt mineralization at its Florence Lake project in Labrador

Analyst Opinion: Positive – Sampling has delineated a 7.5 km x 1 km nickel-cobalt zone. The Florence Lake property is prospective for nickel sulphide deposits, a key source of class 1 nickel used in lithium-ion batteries.