Project developer Western Copper and Gold has upsized its bought-deal public offering to fund permitting and engineering work at its Casino project, in Yukon, to $40-million.
The TSX- and NYSE American-listed company on Tuesday announced an amended agreement with Eight Capital under which underwriters have agreed to buy, on a bought-deal basis, 21 055 000 shares at $1.90 each.
The underwriters have an over-allotment option to purchase up to an additional 3 158 250 common shares, representing 15% of the offering, to cover over-allotments.
Casino is a copper, gold, molybdenum and silver deposit, about 300 km from Whitehorse. A 2022 feasibility study confirmed the robust nature of Casino, which will require C$3.62-billion to build a mine that will operate for 27 years.