M&As this week: First Mining Finance, Telferscot Resources, KEFI Minerals (Ethiopia)
First Mining Finance has entered a definitive agreement to fully acquire Tamaka Gold Corporation.
The transaction will primarily grant First Mining Finance the rights to Tamaka Gold's Goldlund gold project in Ontario, Canada. The property consists of 167 claims and three leases covering a total area of approximately 26,600ha.
Telferscot Resources has signed a binding letter of intent (LoI) with Auxico Resources Canada (Auxico).
The LoI is for Telferscot Resources to acquire all the issued and outstanding shares of Auxico, which owns the 3,376ha Zamora Property, as well as 15 other silver/gold mines and exploration prospects in Canada.
KEFI Minerals (Ethiopia) has announced that the Government of Ethiopia has agreed to invest $20m in its Tulu Kapi gold project in Western Ethiopia, in exchange for an equity interest in the project.
Image: The Government of Ethiopia has agreed to invest $20m in the Tulu Kapi gold project owned by KEFI Minerals (Ethiopia). Photo: courtesy of Nyota Minerals.