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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2020
SUBSEQUENT EVENTS.  
SUBSEQUENT EVENTS

NOTE 23 SUBSEQUENT EVENTS

February 2021 equity financing:

On February 9, 2021, the Company completed a registered direct offering with several existing and new institutional investors and issued 30,000,000 shares of common stock priced at $1.05 per share for gross proceeds of $31.5 million.  

January 2021 flow-through financing:

On January 29, 2021, the Company issued 12,600,600 flow-through common shares priced at $1.01 per share for gross proceeds of $12.7 million.

Gold Bar Resource and Reserve estimate update:

On January 7, 2021, the Company updated the resource and reserve numbers for the Gold Bar Mine.  A net reduction of 16% in estimated reserves results in a revised Probable Reserve Estimate of 302,000 recoverable gold ounces. This change in reserve estimate is an update to the analysis in Q1-2020. The potential mine life is in the range of 5 to 7 years based on the currently estimated reserves.

MSC Dividend received:

On January 28, 2021 we received a dividend of $2.5 million from MSC.