Deals this week: CNHKI, Spearmint Resources, Jervois Mining
China Nonferrous Mining Hong Kong Investment Limited (CNHKI) has announced a joint venture (JV) with Yunnan & Hong Kong Metal Company Limited for the construction of a smelter for fire-refining of blister copper in the Democratic Republic of the Congo.
Named Likasi Copper Smelter SAS, the JV will have a registered capital of $20,000, with CNHKI and YH Metal holding 60% and 40% equity respectively, and will be a subsidiary of CNHKI.
Both JV partner companies are based in Hong Kong.
CNHKI is a wholly owned subsidiary of China-based non-ferrous metal mining company China Nonferrous Mining Corporation Limited. YH Metal is a wholly owned subsidiary of China’s Yunnan Copper Group, a company engaged in production, sales and processing of nonferrous metals.
Canadian junior resource exploration company Spearmint Resources has announced the acquisition of three separate claim blocks admeasuring 1,245 acres near Wells, British Columbia, Canada.
The blocks make up the Gold Mountain gold project.
Australian mineral exploration company Jervois Mining Limited has announced its intention to raise A$130,000 ($980,000) through a non-renounceable pro-rata rights issue.
As part of the offer, Jervois Mining will issue one new share for every four held on the record date at a price of A$0.05 each, and a free attach warrant with a validity of 12 months from the date of issue.
The offering is expected to be valid until 12 June.
Stonegate Agricom has raised C$950,000 ($710,000) in gross proceeds from Itafos through a non-brokered private placement of 47.5 million shares priced at C$0.02 ($0.01) a share.
Stonegate Agricom is involved in the development of agricultural nutrient sites and a phosphate project, while Itafos manufactures phosphate and potash fertilisers and related products.
Both companies involved are based in Canada.
Itafos will receive 202,450,462 common shares of Stonegate, equivalent to approximately 35.4% of the issued and outstanding common shares.
Newrange Gold Corp has announced that it has raised C$1.2m ($0.9m) through a non-brokered private placement of four million units priced at C$0.30 ($0.22) a unit.
Each unit comprises one common share and one share purchase warrant, which can be exercised to purchase an additional common share for a period of two years at a price of C$0.45 ($0.33) each.
Newrange Gold is a Canadian exploration and development company focused on identification, acquisition and exploration of precious metal and base metal projects.
Endeavour Mining Corporation has announced its plans to issue 2,573,372 common shares through a private placement, priced at C$24.62($18.46) a share, and raise C$63.4m from La Mancha Holding.
Endeavour Mining is based in the Cayman Islands and involved in production of African gold
The deal enables La Mancha to hold 28,826,304 common shares, equivalent of 29.99% of Endeavour's common shares.