Deals this week: African Thunder Platinum, DNI Metals, Noront Resources

26 March 2015 (Last Updated March 26th, 2015 18:30)

African Thunder Platinum has completed the acquisition of certain South African PGM assets.

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African Thunder Platinum has completed the acquisition of certain South African PGM assets.

The company has been funded by a consortium of mining investors, Aberdeen International and Pala Investments.

African Thunder acquired 69.75% of Smokey Hills and 49% of Kalplats.

DNI Metals has signed an agreement with Atlantica Geologia e Mineração and Columbia Exploração Mineral, and Ricardo Oliveira Gallant de Menezes for a graphite property in Brazil.

Upon completion of a 90-day due diligence period, and final board approval, the company will complete a definitive agreement.

By fulfilling certain obligations that will be outlined in the DA, DNI has the option to earn a 100% interest in the properties less a royalty retained by A&C.

Noront Resources has signed an agreement to acquire, among other things, the shares of Cliffs Chromite Ontario and Cliffs Chromite Far North both indirect wholly owned subsidiaries of Cliffs Natural Resources.

The transaction includes the acquisition of about 103 claims currently owned by CCOI and CCFNI, including a 100% interest in the Black Thor chromite deposit.

It also includes a 100% interest in the Black Label chromite deposit and a 70% interest in the Big Daddy chromite deposit.

Riverside Resources has signed an option agreement with Argonaut Gold to acquire a 100% interest in the Glor Gold Project located about 8km west of AuRico's El Chanate Mine in Sonora, Mexico.

The project acquisition and initial mapping and sampling work was completed as part of alliance funded activities through Riverside's strategic alliance with Hochschild Mining.

Mineralisation on the Glor project is widespread with indications of high-grade gold-bearing quartz veins, as evidenced by initial field check sampling and mapping.

Renaissance Gold has announced the execution of an earn-in agreement with Walmer Capital on the Golden Shears Project in Clark County, Nevada.

The project is located 45km south-west of Las Vegas, Nevada in the Goodsprings Mining District.

Upon execution of the agreement, Walmer will pay RenGold $50,000, reimburse claim fees for the past year and fund an exploration and development programme to be conducted initially by RenGold.


Image: Several companies have signed deals this week. Photo: courtesy of Chaiwat.