Magnetic Resources plans to raise A$4.6m ($3.4m) through a private placement of shares, priced at A$0.12 ($0.08) a share, to new and existing shareholders.
Australia-based Magnetic Resources is engaged in gold, nickel and uranium exploration.
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NovaGold Resources has entered a binding agreement to sell its 50% interest in the Galore Creek project to Newmont Mining for $275m.
Galore Creek Partnership (GCP) currently owns the remaining 50% stake in the project, which is located in northern British Columbia, Canada.
Newmont will also acquire Novagold’s 40% stake in the nearby Copper Canyon mineral property as part of the transaction.
The remaining 60% interest in the Copper Canyon development is held by GCP.
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By GlobalDataThe deal is intended to enable Novagold to arrange funds for its flagship Donlin Gold project in Alaska, US.
Novagold has engaged RBC Capital Markets as its financial adviser for the transaction.
Nova Minerals and has agreed to form a joint venture (JV) with Newmont Mining’s wholly owned subsidiary Newmont Tanami for the development of the Officer Hill Gold Project.
Nova will hold 30% working interest in the JV, while Newmont will hold the remaining 70% interest.
Nova Minerals is engaged in mineral exploration with a particular focus on lithium and gold, as well as mineral exploration in Canada, Alaska and Australia, while Newmont Tanami is the operator of the Tanami mine.
Both companies involved in the deal are based in Australia.
Ventnor Resources has received firm commitments regarding its proposal to raise $2.4m via the issuance of 40 million shares priced at $0.06 a share.
The company proposes to issue 36.55 million shares to raise a sum of $2.19m, as well as issue an additional 3.45 million shares to its directors under the initiative.
Ventnor Resources is an Australian developer of greenfield projects.
Emerita Resources plans to raise up to C$3m ($2.29m) in a non-brokered private placement of up to 60 million units priced at C$0.05 ($0.038) a unit.
Each unit will comprise one common share in Emerita and one-half of one common share purchase warrant, which entitles the holder to acquire an additional common share for C$0.15 ($0.11) within two years of the offer’s closure date.
Emerita Resources is a Canadian natural resource company that is primarily engaged in the acquisition, exploration and development of mineral properties with a prime focus on exploration in Spain and Brazil.
