Ascot Resources has signed an agreement with Jayden Resources and Mountain Boy Minerals to acquire the entire stake in the Silver Coin property in north-western British Columbia, Canada.

Jayden Canada currently holds an 80% interest in the property under a joint venture (JV) agreement with Mountain Boy Minerals, which holds the remaining 20% stake.

Mountain Boy is slated to receive 3.7 million Ascot shares in exchange for the 20% JV interest in the property under the arrangement.

Ascot Resources is a gold and silver exploration company, while Jayden Resources and Mountain Boy Minerals are engaged in mineral exploration.

“Sunstone Metals has signed a letter of intent (LoI) with Copperstone Resources to sell the Viscaria copper project in northern Sweden for approximately A$41m ($30m).”

All the companies involved in the transaction are based in Canada.

Sunstone Metals has signed a letter of intent (LoI) with Copperstone Resources to sell the Viscaria copper project in northern Sweden for approximately A$41m ($30m).

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By GlobalData

The company owns the project via its subsidiary Avalon Minerals Viscaria.

Copperstone will implement the transaction in two stages, with the first stage involving a cash payment of approximately A$6m ($4.3m) and the issuance of 160 million B-shares worth A$25m ($18m).

The second stage will include a cash payment of A$3m ($2.2m) and 46 million B-shares worth A$7m ($5m).

Sunstone is set to become the largest shareholder in Copperstone with a stake of approximately 30% following the transaction.

Australia-based Sunstone Metals is engaged in mineral exploration and development operations, while Copperstone Resources is a Swedish company that focuses on the exploration of porphyry copper mineralisation.

Antofagasta has agreed to purchase a 70% interest in the Chunibas copper-silver project in the state of Sonora, Mexico, from San Marco Resources.

The transaction is being executed through Antofagasta’s subsidiary and includes a payment of $200,000 to San Marco over a period of four years.

Antofagasta will also invest $8m towards various project costs in exchange for the interest.

Chile-based Antofagasta is engaged in copper mining, while San Marco Resources is a Canadian company that is primarily focused on mineral exploration.