Deals this week: Austral, Pure Gold Mining, Tawana Resources
Austral Gold Limited has announced the acquisition of an additional 19% stake in Argentina's Casposo gold and silver project (Casposo) from Troy Resources Limited for $1m. The Casposo project is located in San Juan Province.
Austral Gold now holds 70% stake in Casposo and also has an option to acquire the remaining 30% interest for $7m.
Both companies involved in the transaction are based in Australia.
Pure Gold Mining has announced the signing of a binding agreement to acquire the Derlak Gold Property from gold exploration company, Orefinders Resources. Located in Ontario, Canada, the Derlak Property will consolidate Pure Gold’s properties in the Madsen Gold Project.
An exploration-stage company, Pure Gold will acquire the property by paying $500,000 in cash and 1,290,322 of its common shares.
Both companies involved in the transaction are based in Canada.
Australia-based Tawana Resources has acquired 100% of four lithium tenements located in the Cowan and Yallari projects in Western Australia.
Three of the tenements are part of the Cowan Project with a total area of 159km², while the 41.2km² fourth tenement is part of the Yallari Project. The acquisitions are part of Tawana’s Bald Hill Mine development, which the company holds a 50% interest in.