Deals this week: Prize Mining, Libero Copper Corporation, Warrior Met Coal

11 May 2018 (Last Updated May 10th, 2018 13:01)

Prize Mining has agreed to raise a sum of C$2 ($1.54m) by issuing 11.11 million units priced at C$0.18 ($0.13) a unit as part of a private placement.

Prize Mining has agreed to raise a sum of C$2 ($1.54m) by issuing 11.11 million units priced at C$0.18 ($0.13) a unit as part of a private placement.

Each unit will comprise one share and one-half of one non-transferable share purchase warrant.

Every full warrant will entitle the holder to purchase an additional common share for C$0.3 ($0.23) within two years of the offer closure date.

Canada-based Prize Mining is a junior mining company that is currently focused on developing the high-grade Manto Negro copper property.

Libero Copper, formerly Libero Mining, has entered an agreement with B2Gold to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia.

The company has agreed to issue 10.4 million shares, worth approximately C$0.94m ($0.72m), to B2Gold as consideration for the acquisition.

"Libero Copper, formerly Libero Mining, has entered an agreement with B2Gold to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia."

B2Gold is set to gain a 19% stake in Libero Copper via the transaction, as well as earn a right to participate in future equity financings.

Libero Copper is primarily engaged in the acquisition and exploration of mineral properties, while B2Gold is a gold mining company.

Both companies involved in the transaction are based in Canada.

A number of Warrior Met Coal stockholders have agreed to sell eight million shares worth $212.96m in a public offering.

The company also plans to repurchase 500,000 shares of common stock from the underwriter as part of the development.

US-based Warrior Met Coal specialises in the production and exportation of premium metallurgical coal.

The company has engaged Credit Suisse Securities (USA) LLC as its sole underwriter for the transaction.

Sphinx Resources and Osisko Metals have reached an agreement to form a joint venture (JV) that will focus on exploring zinc in prospective areas of the Grenville geological province in southern Quebec, Canada.

The two companies propose to spend a minimum of C$1.1m ($0.85m) each over the next five years in support of the initiative, including C$0.1m ($0.07m) during the first year.

Sphinx Resources is primarily engaged in zinc exploration, while Osisko Metals is focused on the exploration and development of minerals.

Both organisations involved in the new JV are based in Canada.

Vimy Resources has agreed to raise A$6m ($4.5m) in a private placement of 55 million ordinary shares priced at A$0.11 ($0.08) a share.

The Australia-based uranium explorer has enlisted Morgans Corporate as its lead manager and book-runner for the transaction, while Amvest Capital has been engaged as the broker.

Wealth Minerals has agreed to raise C$5m ($3.89m) as part of a private placement of 4.5 million units priced at C$1.1 ($0.85) a unit.

Each unit is slated to consist of one common share in Wealth Minerals and one-half of one common share purchase warrant.

A full purchase warrant will entitle the holder to acquire an additional common share for C$1.5 ($1.16) within two years of the offer closure date.

Wealth Minerals is a Canadian junior mineral resource exploration company focused on the acquisition, exploration and development of mineral properties.