Deals this week: Abitibi Royalties, Great Western Mining, Bathurst Resources

6 July 2018 (Last Updated July 27th, 2018 07:33)

Abitibi Royalties has agreed to acquire a 2% net smelter royalty (NSR) on the Revillard property in Québec, Canada, from a third-party seller for a sum of $50,000.

Abitibi Royalties has agreed to acquire a 2% net smelter royalty (NSR) on the Revillard property in Québec, Canada, from a third-party seller for a sum of $50,000.

The Revillard property claims fall within the Malartic Project and are currently held by Dundee and Pershimex Resources under an option agreement.

Canada-based Abitibi Royalties is engaged in the acquisition of royalties on mining projects, primarily within the early stages of exploration.

Great Western Mining has issued 77 million new ordinary shares priced at €0.0001 ($0.0012) a share as part of a placement to raise approximately £1m ($1.32m).

A variety of institutions and existing shareholders have subscribed to the shares issued under the placement.

“Bathurst Resources and Jameson Resources have agreed to jointly invest in Jameson’s wholly owned Canadian subsidiary NWP Coal Canada, which holds the Crown Mountain project.”

Great Western Mining engaged Novum Securities for the placement, while Walbrook was engaged as PR advisor.

Ireland-based Great Western Mining is engaged in the exploration of copper, silver, gold and other mineral targets within Mineral County, Nevada, US.

Bathurst Resources and Jameson Resources have agreed to jointly invest in Jameson’s wholly owned Canadian subsidiary NWP Coal Canada, which holds the Crown Mountain project.

Bathurst initially plans to invest C$4m ($3.04m) to fund exploration and gain an 8% equity investment in NWP as part of the arrangement.

The company has also proposed the acquisition of an additional 12% equity by investing C$7.5m ($5.7m) following exploration, as well as a further 30% interest by investing C$110m ($83.6m).

New Zealand-based Bathurst Resources is a specialist coal company, while Jameson is a Canadian firm that is primarily focused on the exploration and development of coking coal projects in Western Canada.

Amarillo Gold Corporation has reached an agreement with Royal Gold’s wholly owned subsidiary RG Royalties to sell a 1.75% net smelter return royalty on the Mara Rosa gold project for $10.8m (approximately C$14.4m).

Canada-based Amarillo Gold is engaged in gold exploration, while Royal Gold and its subsidiaries are engaged in the acquisition and management of precious metal streams, royalties and similar interests.

Canadian mineral exploration company Prize Mining Corporation plans to raise up to C$4m ($3.01m) in gross proceeds by issuing up to 26.7 million units priced at C$0.15 ($0.11) a unit in a private placement.

Each unit will comprise one common share in the company and one-half of one non-transferable share purchase warrant, which entitles the holder to purchase one additional share for C$0.25 ($0.19) within 12 months from the closure of offer.

The company has engaged Integral Wealth Securities as its lead agent for the transaction.