Deals this week: Kazakhstan Potash Corporation, Pangolin Diamonds, Silver Mines

6 April 2018 (Last Updated April 5th, 2018 10:16)

Kazakhstan Potash Corporation (KPC) has signed a memorandum of understanding (MoU) with Mining Mineral Resources to acquire a 51% interest in the Malemba Lithium Project.

Kazakhstan Potash Corporation (KPC) has signed a memorandum of understanding (MoU) with Mining Mineral Resources to acquire a 51% interest in the Malemba Lithium Project.

The project includes five prospective licenses spread across 730km.

KPC plans to spend $4m in the first two years for exploration and development and finance the feasibility studies of the project, as part of the joint venture.

Based in Australia, KPC is primarily focused on mineral exploration, while Congo-based Mining Mineral Resources is engaged in the exploration and production of mineral properties.

Pangolin Diamonds has entered an option agreement with Makanwu Civil Blasting to acquire up to 75% interest in the AK10 Diamond project in Botswana, Africa.

Based in Canada, Pangolin Diamonds is focused on diamond exploration and development, while MCB is a Botswana-based private company.

“Savannah Resources has agreed to raise £0.58m ($0.81m) through the private placement of shares to Al Marjan.”

Silver Mines has raised A$2.5m ($1.71m) through the private placement of 68.75 million shares, priced at A$0.04 ($0.02) a share.

Silver Mines is an Australian company that is engaged in the development and exploration of silver mines.

Orefinders Resources has agreed to purchase a 100% stake in the McGarry Mine and Barber-Larder Properties in Canada from Kerr Mines.

Orefinders has agreed to issue eight million common shares priced at C$0.12 ($0.09) a share to Kerr to raise proceeds of C$0.96m ($0.74m), as part of the agreement.

Orefinders Resources is engaged in gold exploration, while Kerr Mines (formerly Armistice Resources) is focused on the exploration and development of gold mines.

Both the companies involved in the transaction are based in Canada.

Venus Metals plans to raise A$0.25m ($0.19m) through the private placement of two million new ordinary fully-paid shares priced at A$0.12 ($0.09) a share to professional and sophisticated investors.

Based in Australia, Venus Metals is engaged in mining and exploration.

Savannah Resources has issued 27.6 million new ordinary shares priced at £0.055 ($0.077) a share in a private placement to raise £1.52m ($2.12m).

Savannah Resources is a UK multi-commodity development company primarily focused on mining operations.

The company has agreed to raise £0.58m ($0.81m) through the private placement of shares to Al Marjan.

Canadian firm North American Nickel has agreed to issue 233.3 million units, priced at C$0.075 ($0.058) a unit each, as part of a non-brokered private placement to raise C$17.5m ($13.57m).

Contemporary Amperex Technology (CATL) has agreed to subscribe to 200 million units in the placement. In addition, Sentient Executive GP IV has also agreed to subscribe to units worth a total of C$1m ($0.78m) under the issue.

Each unit will comprise one common share and one-half of common share purchase warrant. Each full warrant can be used to purchase a transferable common share at a price of C$0.12 ($0.09) within two years of the issue date.

North American Nickel focuses on nickel and copper exploration and development.