Cape Lambert Resources Limited has sold its royalty on the Mayoko iron ore project for $1 million cash subject to the formality of the new owners signing off on the transaction.
Gascoyne Resources has raised $50 million through a placement at an issue price of 50 cents a share.
Magnum Gas & Power has signed a share sale and purchase agreement with the major shareholder of Bombora Natural Energy Pty Ltd under which it will acquire all of the issued capital of Bombora on the basis of 60 MPE shares for each Bombora share, which will result in the issue of approximately 2.4 billion shares at latest MPE closing price of $0.001 per share.
Valor Resources Limited has entered into a definitive agreement to acquire 100% of the Berenguela Copper-Silver-Manganese Project from Silver Standard Resources Inc. (NASDAQ: SSRI). Consideration of $12 million over five years and shares equivalent to 9.9% stake in Valor.
Westgold has granted RNC Minerals a six month option to outright purchase Westgold’s South Kalgoorlie Operations for $80 million. RNC will pay Westgold a 5% option fee in RNC shares to secure the option. RNC can extend the option for a further six months by paying an additional 5% option fee in RNC shares. On an exercise of the option by RNC to purchase SKO, Westgold would intend to receive consideration in a mixture of shares and cash. Westgold would seek to become a significant 19.9% shareholder in RNC and retain its upside exposure to an enlarged SKO.
Orinoco Gold advises that the non-renounceable entitlements issue of shares and attaching options announced on 16 December 2016 closed on 10 February 2017. The total raised under the offer to date including entitlements and shortfall totals $9,740,260 with additional interest in shortfall being received from various parties.
Victory Mines’ share purchase plan, announced on 25 January 2017, has closed oversubscribed. 95,629,355 fully paid ordinary shares were offered at an issue price of $0.01155 each to raise up to $1,104,520 before costs. Applications in excess of $1.4M were received and the directors will now assess the scale-back of applications.
Saracen Mineral Holdings has acquired the Bundarra gold project from Bligh Resources, located 30 km south of its Thunderbox plant. Consideration for the acquisition of 100% of the project is $8.5 million in Saracen shares.
GBM Resources and WCB Resources have executed a binding heads of agreement to merge resulting in a substantial ASX listed gold development and exploration company focussed in Australia and Papua New Guinea. Under the HOA each WCB shareholder will receive 8 GBM ordinary shares for every WCB common share.
