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.
Go deeper with GlobalData
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.
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).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe 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.
