Vast Resources has acquired a 95% stake in Zimbabwe-based gold mining company Delta Gold Zimbabwe from Alpha Resources and the Industrial Development Corporation of South Africa for $4.48m.
Vast Resources conducted the acquisition via its 25.01%-owned subsidiary Dallaglio Investments.
Dallaglio has agreed to provide $1.8m in funding to allow Delta Gold to clear off its debts as part of the transaction.
Sub-Sahara Goldia Investments (SSGI) has earned an option to acquire a 25% interest in Delta Gold at $4.6m plus interest by providing debt facility to Dallaglio in support of the acquisition.
UK-based Vast Resources is primarily engaged in mineral exploration and development operations.
The company is expected to gain a 23.75% interest in Eureka gold mine in Zimbabwe as a result of the acquisition.
Vast Resources has engaged Beaumont Cornish as its financial and nominated adviser, while Brandon Hill Capital and SVS Securities are engaged as joint brokers and St Brides Partners is acting as adviser for the transaction.
Sabre Resources has entered a binding agreement to acquire Kinetic Metals for A$40,000.
Sabre Resources has agreed to issue 2.5 million shares priced at A$0.016 ($0.012) as part of the acquisition.
Both companies involved in the transaction are based in Australia.
Sabre Resources is engaged in the exploration of copper, lead, zinc, vanadium, silver and other semi-precious metals, while Kinetic Metals holds 100% interest in the Speewah, Unaly, and Balla vanadium projects.
Empresas Copec, via its subsidiary Inversiones Alxar (Alxar-Mineria), has reached an agreement with Minsur to acquire a 40% stake in Cumbres Andinas for $168.5m.
Chile-based Empresas Copec is an industrial conglomerate focused on mining and exploration operations, while Minsur is a copper and precious metals mining company based in Peru.