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Deals this week: VHGI Coal, Mega Uranium and more…

24 February 2012

VHGI Holdings subsidiary VHGI Coal has completed the acquisition of all of the stock of Lily Group.

Under the transaction, the group secured a $13m debt financing in order to refinance certain existing debt of the company, pay vendors, pay costs of the transaction and for short-term working capital purposes.

Mega Uranium has completed the sale of all of Canadian exploration properties of Titan Uranium assets.

The company issued 10,000,000 common shares to Titan for the purchase of the properties.

Camino Minerals Corporation has signed a letter of intent (LOI) with Arcelia Gold Corp to acquire an 80% equity interest in the El Secreto Gold, Silver and Copper project in Mexico for an undisclosed sum.

El Secreto consists of three mineral concessions encompassing over 12,675ha.

Equinox Exploration has signed a letter of intent to acquire a 100% interest in a mining lease in Chile's Atacama region.

The lease consists of three exploitation concessions totalling approximately 1,110 acres which includes the Aura Copper Mine.

North Springs Resources Corp has entered into a definitive agreement with Hyperion Management Mining.

Under the terms of the agreement, the company will acquire a 10% interest in an option on a number of producing gold and silver properties in Chihuahua, Mexico.