Serbia mining: Medgold Resources gold exploration funding secured, Mining
Medgold Resources Corp. is a European-focused TSX-V listed exploration and development company targeting gold properties in central and southern Serbia. The company is run by a highly experienced management team with a successful track record of building value in resource companies. Medgold is aiming to become a leading European gold company.
As has been alluded to, we like the fact that Medgold has joined with a larger partner across its Serbian asset base to ensure they are a well-funded exploration vehicle. As a broad comment, this can provide potential Medgold investors with some comfort that they will not be asked to contribute meaningful equity to support exploration efforts. The flip-side is that to some extent investors upside in the main projects is capped (typically at ~30% of asset value), however, in a time of low equity prices in the sector, and general difficulty for early stage exploration funding, we believe this shows good savvy from the management team to push their efforts forward.
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