Junior Miner Pops After Disclosing New Indicative Term Sheet

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Tuesday, August 8, 2023

A junior miner based out of Kelowna, British Columbia is making some major waves on Tuesday after the company announced that that it has entered into a non-binding indicative term sheet with a leading international mining company for a 9.9% investment into the Company at a price of C$0.14 per share, according to today’s press release.

Seeing that shares of Enduro Metals Corporation (TSXV:ENDR) (OTCQB:ENDMF) closed at just $0.065/share on the Canadian side on Monday, it’s no wonder that traders were extremely bullish on the $0.14/share purchase price mentioned in the release. Shares trading on the Canadian side reached up to $0.09/share (+38.46%) at the session high. 

Enduro Metals is an exploration company focused on its flagship Newmont Lake Project; a total 688km2 property located between Eskay Creek, Snip, and Galore Creek within the heart of northwestern British Columbia's Golden Triangle. Building on prior results, the Company's geological team have outlined 4 deposit environments of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy & 72 Zones, encouraging porphyry-style alteration typical of alkalic copper-gold porphyry systems at North Toe, and a large 9km x 4km geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi Corridor.

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