Deals this week: Eloro Resources, Rise Resources, Athabasca Nuclear Corporation
Eloro Resources has signed a letter of intent (LoI) to acquire a 100% undivided interest in the La Victoria property, in Huandoval District, Pallasca Province, Peru, from a Tartisan Resources Corp subsidiary for C$1.85m ($1.41m) in cash and stock.
The property hosts eight mineral concessions covering a total area of approximately 34.4km².
Under the LoI agreement, Eloro will issue six million common shares priced at C$0.25 ($0.19) each, issue three million non-transferable warrants, and pay C$350,000 ($260,000) to Tartisan in cash.
Eloro will also grant Tartisan a 2% royalty interest, with half possible for Eloro to buy back for C$3m ($2.30m).
Rise Resources has signed an agreement to acquire Klondike Gold Corp's 100% interest in seven gold and base metal properties, which incorporate 150 mining claims, covering a total area of 28,000ha, in British Columbia, Canada, through cash and stock.
The transaction will require Rise to pay Klondike C$50,000 ($38,274.6) in cash, issue 1.5 million shares at a price of C$0.19 ($0.14) each and issue warrants to acquire 1.5 million shares of Rise's common stock within 60 days.
After one year of the transaction closure, Rise will also pay Klondike C$150,000 in cash, issue two million shares at a price of C$0.19 each and issue warrants to purchase one million shares of Rise's common stock.
Klondike will retain a 2% net smelter royalty, with have optional for Rise to buy back for C$1m ($0.76m).
Athabasca Nuclear Corporation has completed the acquisition of the Liberty Platinum Group Element (PGE) exploration project (Liberty PGE Project), which consists of 175 mineral cell claims covering approximately 8,476ha in Quebec, Canada.
RJK Exploration has signed a property option agreement to acquire a 100% beneficial interest in Globex Mining Enterprises' Ramp Gold Property. It consists of 66 unpatented claims, 16 patented claims, three mining leases and nine parcels of patented and leased surface rights in Ontario, Canada.
In exchange, Globex Mining Enterprises will be offered cash, a gross metal royalty, and a net smelter royalty by RJK.