Kin Mining NL plans to raise up to A$10.4m ($7.4m) by issuing pro-rata two-for-five non-renounceable rights of ordinary shares in an entitlement offer.
Three substantial shareholders have agreed to participate in the entitlement offer and subscribe to approximately 21% of the shares on issue.
Proceeds from the offering will be used to develop the Leonora Gold Project (LGP), for the exploration of new targets aimed at increasing the resource base at LGP, and to repay $3m outstanding Sprott facility.
Based in Australia, Kin Mining is engaged in gold development and exploration.
Galane Gold has reached an agreement with Andy Well Mining and Doray Minerals to acquire certain mining tenements and related plant, equipment and assets in Western Australia.
Galane Gold has agreed to pay A$10m, including A$1m in shares and A$9m in cash under the agreement.
Shares issued as part of the transaction will be equivalent to approximately 9% of the company’s issued and outstanding common shares.
Based in Canada, Galane Gold is engaged in unhedged gold production and exploration. Doray Minerals is an Australian company is engaged in gold and copper production. Andy Well Mining is a subsidiary of Doray Minerals.
Cauldron Energy has reached an agreement with Mercury Resources Group to acquire the Pippingarra and Marble Bar lithium projects.
The consideration payable for the asset acquisition includes 40 million fully paid ordinary shares, 40 million options, 60 million performance shares, a 1% net smelter royalty, and $500,000 in cash.
Cauldron Energy is a resource development company focused on developing a suite of uranium and base metal projects, while Mercury Resources Group is an unrelated private exploration and mining group. Both companies are based in Australia.
Botswana Diamonds (BOD) and Vast Resources have concluded an agreement to jointly develop concessions in the Marange Diamond Fields (MDF) of eastern Zimbabwe. The two companies signed a memorandum of understanding (MoU) for the transaction in May 2018.
A special-purpose vehicle (SPV) will be set up by the two companies to develop diamond resources in the MDF. Vast will own 86.67% in the SPV, while the remaining stake will be held by BOD.
The two companies will initially focus on the MDF and will form a 50/50 joint venture to develop diamond properties outside of the MDF.
Based in Ireland, BOD is a diamond exploration and project development company, which holds exploration licences in Botswana and South Africa, while Vast Resources is a UK-based company focused on mining and resource development.