Deals this week: Evolution Mining, PJX Resources, Nickel Mines Limited

4 May 2018 (Last Updated May 3rd, 2018 15:23)

Evolution Mining has reached an agreement with Orion Minerals to acquire the Connors Arc exploration project for a sum of A$2.5m ($1.87m).

Evolution Mining has reached an agreement with Orion Minerals to acquire the Connors Arc exploration project for a sum of A$2.5m ($1.87m).

The company has also agreed to pay a 2% net smelter return royalty on gold produced from the project, subject to a maximum of A$5m ($3.75m).

Evolution Mining is engaged in gold exploration, while Orion Minerals primarily focuses on the exploration of gold, copper, zinc, nickel, silver and platinum group elements (PGE).

Both companies involved in the transaction are based in Australia.

"Geopacific Resources has raised A$10m ($7.57m) via the private placement of 280 million shares priced at A$0.036 ($0.027) a share."

PJX Resources has reached an agreement for a non-brokered private placement of flow-through units priced at C$0.17 ($0.13) a unit to raise a total of C$2.7m ($2.1m).

Each unit will include a single common share in PJX and one common share purchase warrant, which will entitle the holder to purchase an additional common share for C$0.25 ($0.19) within two years of the offer closure date.

Canada-based PJX Resources is engaged in mineral exploration and development.

Nickel Mines Limited plans to issue shares as part of an initial public offering (IPO) to raise A$125m ($94.35m).

The company currently holds a 80% interest in PT Hengjaya Mineralindo, which owns the Hengjaya nickel mine in Indonesia.

Australia-based Nickel Mines is primarily engaged in the production of nickel pig iron.

The company has engaged Bell Potter Securities as sole lead manager for the transaction.

Geopacific Resources has raised A$10m ($7.57m) via the private placement of 280 million shares priced at A$0.036 ($0.027) a share.

Geopacific Resources specialises in the exploration and development of gold and copper.

VR Resources has reached an agreement with Nevada Select Royalty to purchase the Kraut Property in Nevada, US.

VR has agreed to pay $10,000 in cash and issue 50,000 common shares to Ely Gold as part of the transaction.

The company also agreed to pay an additional $50,000 and issue a further 50,000 common shares upon commencement of a diamond drill programme.

Nevada Select will also receive a 2% net smelter royalty (NSR) under the arrangement.

Canada-based VR Resources is engaged in copper and gold exploration, while Nevada Select Royalty is a mineral exploration company based in the US.

Nevada Select is a wholly owned subsidiary of Canadian organisation Ely Gold Royalties.