Harris Fricker, the President and CEO of GMP, continues to back the right mining deals (Photograph: Peter J. Thompson/National Post)

Harris Fricker, the President and CEO of GMP, continues to back the right mining deals (Photograph: Peter J. Thompson/National Post)

Coming just two days after the announcement of a $12 million private placement, Cordoba Minerals (CDB:TSXV) announced this morning that they increased the placement to $15 million to meet demand.  They also announced the financing was now closed.  No overallotment option was given on the financing.  GMP Securities, Dundee and BMO Capital Markets were the co-leads on the financing.  The size of the placement is now 30 million subscription receipts at $0.50.

The company will have roughly $14 million in cash now, after they make the $4 million payment to close the acquisition of the Cordoba copper-gold project in Colombia.  They will use the remaining money to continue to delineate their large 13km long prospective corridor of magnetite rich intrusives.

Clearly there is excitement in the investment community for the new team (including Ari Sussman and Bob Allen of Continental Gold as well as Mario Stifano) to begin working on this Colombian project, especially given their history of success working in that country.

This continues to prove that the right people with the right projects can raise equity in this market. Resource companies as a whole are not out of the woods yet, but the leaders in the sector are beginning to emerge.

Read: Cordoba Minerals Increases Size of Financing

Related: Cordoba to Close Asset Acquisition After Announcing $12 Million Financing