Deals this week: Agave Silver, Chaparral Gold, Sandstorm Gold

19 February 2015 (Last Updated February 19th, 2015 18:30)

Agave Silver has signed an agreement with Hastings Highland Resources for an exclusive option to earn a 90% interest in Hastings' Limerick Township nickel-copper property located in Ontario, Canada.

Handshake

Agave Silver has signed an agreement with Hastings Highland Resources for an exclusive option to earn a 90% interest in Hastings' Limerick Township nickel-copper property located in Ontario, Canada.

The acquisition brings the company a Canadian nickel-copper property with historical targets for future evaluation.

Further,Agave plans to bring historical data into a fully compliant NI 43-101 format allowing for further work programmes to develop a resource calculation on the property in a mining area.

Chaparral Gold and Waterton Global Resource have announced that Waterton Precious Metals has completed the previously announced acquisition of all of the issued and outstanding common shares of Chaparral.

The shares of Chaparral are expected to be de-listed from the Toronto Stock Exchange.

The company intends to submit applications and notices to cease to be a reporting issuer and to otherwise terminate its public reporting requirements as soon as possible.

Sandstorm Gold has signed an agreement to acquire 100% of the outstanding common shares in the capital of Gold Royalties.

Gold Royalties has about C$2m in cash and a portfolio of 18 royalties on 13 mining projects in Canada.

Sandstorm will have a portfolio of ten streams and 59 royalties upon closure of the arrangement.

Almonty Industries has terminated discussions with Woulfe Mining.

The non-binding letter of intent to combine the two businesses entered into on 27 January and extended on 13 February has also been terminated.

In January, Almonty provided Woulfe with a C$150,000 unsecured bridge loan that was to be used for basic working capital needs.

Canadian Metals signed an agreement with MINTEK for performing the prototype testing of the production of ferrosilicon from Langis silica sand.

The test work will be conducted in two consecutive phases.

Phase one aims to demonstrate the proof-of-concept and the technical feasibility of producing ferrosilicon from the quartzite.

During phase two, the previous results and performances will be used, in part, to conduct a preliminary economic assessment (PEA) study on a commercial facility.


Image: Several companies have signed deals this week. Photo: courtesy of adamr/ FreeDigitalPhotos.net.