Deals this week: Prophecy Development, Manson Creek Resources, Azure Minerals


Prophecy Development has reached an agreement to raise C$3.1m ($2.47m) in a private placement of 888,000 units priced at C$3.50 ($2.79) each.  

Each unit will consist of one common share and one-half of a share purchase warrant, which entitles the holder to acquire an additional share at a price of C$4 ($3.19) a share. The option is exercisable within three years from the date of issuing.

Under the offer, the company's management and directors will subscribe for approximately 100,000 units valuing C$350,000 ($270,000).

Based in Canada, the company is engaged in acquisition, exploration, and development of mineral properties. 

"The company paid $125,000 to the previous owners towards the services, and will pay a further $125,000 once the mine begins commercial production."

Manson Creek Resources has acquired the DJ Jade project in Washington, consisting of Lode Claims spread over more than 140ha. 

Manson Creek is a Canadian mineral exploration company focused on the acquisition and development of early stage gold projects.

Azure Minerals has completed the acquisition of the historic Sara Alicia gold-cobalt project in Sonora region, Mexico. The acquisition is a part of the company’s strategy to expand its exploration portfolio in the country.

The company paid $125,000 to the previous owners towards the services rendered, and will pay a further $125,000 once the mine begins commercial production. 

Spread over 9ha, the mine hosts high-grades of gold in addition to copper-zinc-silver mineralisation.