Deals this week: CMI, Thor Explorations, Jin Huang Mining

5 January 2018 (Last Updated January 5th, 2018 10:27)

Consolidated Mining And Investments (CMI) has reached an agreement with Chengtun Mining Group to raise $6m by issuing 11,336,065 shares priced at $0.53 each. 

Consolidated Mining And Investments (CMI) has reached an agreement with Chengtun Mining Group to raise $6m by issuing 11,336,065 shares priced at $0.53 each.

Chengtun will hold a 25% stake in CMI upon completion of the transaction.

CMI is a non-ferrous metal exploration company based in the UK, while Chengtun Mining is a Chinese company engaged in the exploration of copper, tin, tungsten, silver, and gold.

Thor Explorations has agreed to issue up to 25 million shares priced at C$0.17 ($0.13) a unit in a non-brokered private placement to raise C$4.25m ($3.37m).

Based in Canada, Thor is a junior natural resources company focused on acquiring and developing gold and silver properties.

Jin Huang Mining (formerly XinXing Global) has sold 6,482,860 shares in Canadian gold exploration company Pretium Resources for ¥215m ($33.08m).

Based in China, Jin Huang Mining is engaged in the exploration of gold, copper, and zinc.

“The company proposes to issue 3.3 million unlisted options to professional and sophisticated investors.”

Dome Gold Mines plans to raise A$600,000 ($460,000) through the private placement of three million shares priced at A$0.20 ($0.16) each.

The company also proposes to issue 3.3 million unlisted options to professional and sophisticated investors.

Based in Australia, Dome Gold Mines is engaged in the exploration and development of iron sand, copper, and gold.

Canadian phosphate mining company Arianne Phosphate has agreed to raise C$1.92m ($1.52m) through the private placement of 3,040,030 units priced at C$0.63 ($0.50) a unit.

Each unit comprises one common share and one half of one common share purchase warrant, which entitles the holder to purchase an additional common share for C$0.85 ($0.67) each until 29 December 2020.

Units issued under the private placement are subscribed by existing shareholders of the company, as well as the board of directors and management team.