Deals this week: Jindal Stainless Ltd, Montero Mining and Exploration Ltd, Auxico Resources Canada Inc

9 March 2018 (Last Updated March 8th, 2018 11:56)

Jindal Stainless Ltd intends to offer securities to raise a total of Rs12bn ($183.72m), while its shareholders plan to increase the aggregate limit for investing in the company by foreign portfolio investors to up to 100% of paid-up equity share capital to 100%.

Jindal Stainless Ltd intends to offer securities to raise a total of Rs12bn ($183.72m), while its shareholders plan to increase the aggregate limit for investing in the company by foreign portfolio investors to up to 100% of paid-up equity share capital to 100%.

Jindal Stainless is an India-based manufacturer of stainless-steel flat products.

Montero Mining and Exploration Ltd intends to acquire 80% interest in Exclusive Prospecting License 6162 (EPL 6162), which is currently owned by Namibian national Esegiel Xamseb.

The company has signed a letter of intent (LoI) with Esegiel Xamseb in relation to the purchase and is expected to explore lithium, base, rare and precious metals in the license area.

Canada-based Montero Mining and Exploration is a lithium and phosphate exploration company.

Auxico Resources Canada Inc has purchased 13 properties that cover a combined area of 65,000ha in Colombia, Canada.

The properties are located in the south-west region of the city of Bogota.

"China Minmetals Corporation has completed a public offering of international bonds carrying an interest rate of 4.45% a year, payable semi-annually, to raise a total of $400m."

Each of the properties covers an average area of 5,000ha within a region that is known for gold, cobalt and other base metals.

Canadian mining company Silver One Resources Inc has signed an agreement to acquire ten non-patented mineral claims situated east of the Mount Diablo open-pit.

The claims are located along the eastern structural projection of the Candelaria mineralised system.

Silver One will pay $10,000 as part of the arrangement, in addition to issuing $10,000-worth of Silver One shares at the market price.

The transaction is subject to approval by the TSX Venture Exchange.

MOD Resources Limited has reached an agreement to raise A$6.3m ($4.88m) via a rights offering of shares by issuing one share for every 16 shares held.

The company is slated to issue a total of 134,504,298 shares at a price of A$0.047 ($0.03) a share as part of the transaction.

Additionally, MOD Resources has concurrently reached an agreement for a private placement of 255,319,148 shares priced at A$0.047 ($0.03) a share to raise a sum of A$12m ($9.3m).

The proceeds are intended to be used for the expansion of exploration activities along the T3 Dome and T20 Dome, as well as across the company’s regional holdings.

Canadian exploration-stage company Alianza Minerals Ltd has acquired the Haldane Silver Property, which is located 25km west of Keno City.

The property was acquired from Canada-based exploration firm Equity Exploration Consultants Ltd.

The purchase consideration for the transaction includes the issue of two million shares to Equity Exploration Consultants, as well as two-stage cash payments of C$0.05m ($0.038m) each by 30 June 2018 and 30 June 2019 respectively.

In addition, the deal will require a final payment of C$0.05m ($0.077m) in either cash or issue of shares of equivalent value on 30 June 2019.

China Minmetals Corporation has completed a public offering of international bonds carrying an interest rate of 4.45% a year, payable semi-annually, to raise a total of $400m.

China Minmetals is a China-based exploration company that primarily focuses on coal, ferrous alloys, iron ore and other metals.