Deals this week: Carnavale Resources, Urbix Resources, Peak Resources

27 April 2018 (Last Updated April 26th, 2018 10:15)

Carnavale Resources has reached an agreement to acquire 70% stake in African Panther Resources' Isingiro Tin (Sn) project in southern Uganda, Central Africa.

Carnavale Resources has reached an agreement to acquire 70% stake in African Panther Resources’ Isingiro Tin (Sn) project in southern Uganda, Central Africa.

Carnavale has agreed to issue ten million shares to African Panther Resources as part of the deal, as well as $50,000 cash to various parties that facilitated the transaction.

Carnavale Resources is an Australian mineral exploration company, while African Panther Resources is a minerals explorer based in Rwanda.

Urbix Resources has raised $3.5m as part of a Series A round of funding.

Urbix Resources is a naturally occurring flake graphite processing company based in the US.

Peak Resources has agreed to raise A$3.44m ($2.63m) in a first-tranche private placement of 86 million shares priced at A$0.04 ($0.03) a share.

"Polymetal International has gained full ownership of the Prognoz silver property via the acquisition of the remaining 50% stake for a consideration of $140m."

The company directors and staff have agreed to subscribe for A$0.24m ($0.18m) worth of new shares under the deal.

Peak Resources has also agreed to raise A$2.86m ($2.18m) as part of a second placement tranche.

The company has engaged Patersons Securities as its joint lead managers for the transaction.

Peak Resources is an Australian company that is primarily engaged in the exploration and evaluation of mineral licenses.

Polymetal International has gained full ownership of the Prognoz silver property via the acquisition of the remaining 50% stake for a consideration of $140m.

The company has agreed to issue 14,152,668 new ordinary shares, priced at $9.89 a share, as part of the acquisition.

Polymetal is a UK-based metal mining organisation.

Sabre Resources has raised A$1.58m ($1.2m) through the issuance of 105,868,057 fully paid ordinary shares, priced at A$0.015 ($0.011) a share, as part of a private placement.

The placement has been subscribed to by professional and sophisticated investors.

It also includes a free attaching option that expires on 31 October 2019, issued on a one-for-one basis.

The Australian mineral properties explorer and developer has also agreed to acquire 100% stake in Kinetic Metals.

Globex Mining Enterprises has reached an agreement with a gold and phosphate exploration firm to acquire a 2% net smelter royalty (NSR) on three claims that comprise the Kewagama gold mine property.

Both companies involved in the transaction are based in Canada.

Globex Mining is primarily engaged in mineral exploration and currently operates a portfolio of mineral properties.