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    FIL   CA31730E1016

FILO MINING CORP.

(FIL)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-06-30 pm EDT
17.80 CAD   -5.72%
06/27Mining firms poised to lead capital raisings in Canada, TSX CEO says
RE
06/24Filo Mining Corp. Announces Board Changes
CI
06/23Filo Mining Announces 2022 Annual General and Special Meeting Results
AQ
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Filo Mining Shares Rise After C$100 Million BHP Investment

02/28/2022 | 10:01am EDT

By Adriano Marchese


Filo Mining Corp. shares rose in early trading on Monday after it said that mining giant BHP Group Ltd. will invest 100 million Canadian dollars, roughly US$78.7 million, in the company.

At 9:36 a.m. ET, shares were up 7.6% at C$15.38.

The Canadian mining company said that it will issue 6.3 million shares at a price of C$15.95 apiece. On Friday, the stock closed at C$14.30.

At the closing of the private placement, BHP will own around 5% of Filo Mining's issued and outstanding common shares.

The company said it will use the investment funds to support the drilling program at Filo del Sol in Chile.

"This secures the next leg of funding required for us to rapidly expand our exploration plans at Filo del Sol as we define this remarkable deposit," President and Chief Executive Officer Jamie Beck said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

02-28-22 1000ET

Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED -2.91% 40.05 Delayed Quote.-0.60%
FILO MINING CORP. -5.72% 17.8 Delayed Quote.39.39%
PLATINUM -1.84% 880.5 Delayed Quote.-5.01%
WTI 1.30% 107.679 Delayed Quote.45.61%
All news about FILO MINING CORP.
06/27Mining firms poised to lead capital raisings in Canada, TSX CEO says
RE
06/24Filo Mining Corp. Announces Board Changes
CI
06/23Filo Mining Announces 2022 Annual General and Special Meeting Results
AQ
06/20FILO MINING CORP.(TSX : FIL) added to S&P/TSX Global Mining Index
CI
06/20FILO MINING CORP.(TSX : FIL) added to S&P/TSX Capped Composite Index
CI
06/20FILO MINING CORP.(TSX : FIL) added to S&P/TSX Completion Index
CI
06/20FILO MINING CORP.(TSX : FIL) added to S&P/TSX Composite Index
CI
06/10Scotiabank Says Filo Mining's New Discovery Positive, Highlights Potential of Argentina..
MT
06/09FILO MINING BRIEF : Says Discovered New Porphyry Centre Two Kilometres Northeast of Brecci..
MT
06/09Filo Mining Discovers New Porphyry Centre Two Kilometres Northeast of Breccia 41
AQ
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Analyst Recommendations on FILO MINING CORP.
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Financials
Sales 2022 - - -
Net income 2022 -58,7 M -45,6 M -45,6 M
Net cash 2022 64,4 M 50,0 M 50,0 M
P/E ratio 2022 -38,1x
Yield 2022 -
Capitalization 2 162 M 1 678 M 1 678 M
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 31
Free-Float 65,8%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 17,80 CAD
Average target price 27,77 CAD
Spread / Average Target 56,0%
EPS Revisions
Managers and Directors
Jamie Beck President
Jeffrey Yip Chief Financial Officer
Adam I. Lundin President, Chief Executive Officer & Director
Alessandro Bitelli Independent Director
Wojtek Alexander Wodzicki Director
Sector and Competitors
1st jan.Capi. (M$)
FILO MINING CORP.39.39%1 678
BHP GROUP LIMITED-0.60%143 842
RIO TINTO PLC0.76%100 821
GLENCORE PLC18.91%70 755
ANGLO AMERICAN PLC-2.62%43 331
SAUDI ARABIAN MINING COMPANY (MA'ADEN)27.01%32 697