A mining firm in northwestern Ontario is getting solid financial support from a Canadian billionaire.
Storm Exploration has announced that Eric Sprott is putting $2 million into the company.
Sprott is recognized for his investments in gold and smaller mining companies.
His achievements in the industry have led to his induction into both the Investment Industry Hall of Fame and the Canadian Mining Hall of Fame.
Bruce Counts, Storm’s president, expressed gratitude for Sprott’s confidence in their operations.
“Mr. Sprott’s investment will strengthen Storm’s treasury and shareholder base,” Counts stated in a release.
“Junior exploration is speculative. We appreciate the confidence he has shown in our team.”
Once the deal is finalized, Sprott will be Storm’s largest shareholder.
This investment comes as Storm gears up for the next phase of exploration on its Gold Standard project located north of Fort Frances.
The company plans to drill areas previously identified as having high-grade gold potential.
Randy Thoms is a veteran news broadcaster with over 40 years’ experience. He is based in Fort Frances and covers stories across northwestern Ontario. Contact Randy at thoms. randy@radioabl. ca.
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