Deals this week: Agnico-Eagle Mines, Focus Minerals, Zijin Mining and more
Agnico-Eagle Mines has entered into an agreement to acquire a 9.96% stake in Kootenay Silver, through a $4.75m investment in a private placement.
Under the subscription agreement, Agnico-Eagle will purchase a total of 6.25-million units for $0.76 per unit.
Kootenay said it expected to use the proceeds from the deal to advance its Promontorio project, as well as for general working capital.
Focus Minerals has announced that it has completed the purchase of the remaining shares in Focus Laverton, formerly known as Crescent Gold.
With the completion of the deal, Focus Minerals now has a 99.185% shareholding in Focus Laverton.
QRS Capital has entered into a Memorandum of Understanding (MOU) with Compañía Minera Algarrobo Limitada (CMA) for the potential short term exploitation of minerals on mining concessions, including the Tobaco-Carmen resource at its Aurum Copper Project in the Chile's Atacama Region.
The concessions are a part of the property that has been optioned to QRS by CMA in accordance with an option agreement dated 17 February 2013.
Zijin Mining has announced that its Australian subsidiary Norton Gold Fields has signed transaction agreements with Kalgoorlie Mining Co (KMC) to buy all the total issued shares of KMC through a friendly off-market takeover offer.
Norton Gold believes that, following the transactions, its gold production will raise and the production costs will decrease.
Platinum Group Metals has announced that its 74%-owned operating company Maseve Investments has entered into a binding life-of-mine concentrate off-take deal with Rustenburg Platinum Mines (RPM), a subsidiary of Anglo American Platinum, for the Western Bushveld JV Project 1 mine.
Under the terms of the agreement, Maseve will sell all concentrate from Project 1 to RPM for the life-of-mine, and RPM is required to purchase and take delivery of all concentrate.
Image: Several deals were signed in the mining industry this week.