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Walkabout Resources has acquired UK-based gold and lithium exploration company Lonmin (Northern Ireland) from Lonmin for $0.1m in two payments.

The company will also gain a 50% interest in a gold joint venture with gold mining company Koza (UK) through the acquisition.

Based in Australia, Walkabout is a coal and graphite exploration company, while Lonmin is a South African company engaged in platinum exploration.

Serabi Gold has reached an agreement to acquire the complete stake in Chapleau Resources for a cash consideration of $22m.

Serabi Gold is a Brazilian gold mining and development company, while Chapleau Resources is a Canada-based company that owns the Coringa gold project.

“Quest Minerals will also pay a net smelter royalty of 2.5% of all the gold produced from APC’s projects up to a total cumulative payment of $2.5m.”

As part of the transaction, Serabi will initially pay $5m cash to Anfield on closure of the agreement, $5m within three months of closure, and the remaining $12m in cash upon production of first gold.

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By GlobalData

The company has engaged Beaumont Cornish as financial adviser, Blytheweigh as public relations adviser, and Peel Hunt acted as broker for the transaction.

Quest Minerals has agreed to acquire a 100% stake in Austrian Projects Corporation (APC) for A$5.4m ($4.13m).

Quest Minerals is an Australia-based company engaged in gold and cobalt exploration, while APC is a gold exploration company.

Under the agreement, Quest Minerals will issue 180 million shares, valued at A$5.4m ($4.13m), 65 million options exercisable at A$0.03 ($0.024) a share, and 240 million performance shares in two classes. Of these, 120 million options can be converted into class A shares on a 1:1 basis, and the remaining on a 1:1 basis into class B shares.

Quest Minerals will also pay a net smelter royalty of 2.5% of all the gold produced from APC’s projects up to a total cumulative payment of $2.5m.

Quest Minerals is proposed to be renamed as High Grade Metals, upon successful completion of the transaction.

Energy Fuels’ wholly owned subsidiary EFR Utah has reached an agreement with Excalibur Industries to acquire the entire issued and outstanding shares of the latter company. Energy Fuels will issue common shares worth $3.5m as consideration for the transaction.

All the companies involved in the transaction are based in the US.

Energy Fuels is engaged in uranium exploration, while Excalibur Industries is an exploration company with interests in uranium properties.