Mentioned:
AUXX -5.48% TMC -14.61%

A large scale gold deposit in Ontario has just landed a major new backer: AngloGold Ashanti.

What’s happening:

  • Gold X2 (TSXV: AUXX) has raised approximately $116M CAD in a new equity financing round

Why it matters:‍

  • The new funding round is being led by precious metals giant AngloGold Ashanti (NYSE: AU)

Going deeper:‍

  • The private and public investment arm of the Hess oil family Hess Capital will also invest roughly $22M CAD in the new round
  • Gold X2 has publicly stated the new growth capital will primarily go towards advancing their flagship Moss Gold Project located in Ontario which contains significant deposits of both gold and silver

The intrigue:‍