Deals this week: Almonty Industries, Pure Energy Minerals, Paladin

4 June 2015 (Last Updated June 4th, 2015 18:30)

Almonty Industries has acquired direct ownership and control of $1,000,000 in principal amount of convertible unsecured subordinated debentures of Woulfe Mining.

Agreement

Almonty Industries has acquired direct ownership and control of $1,000,000 in principal amount of convertible unsecured subordinated debentures of Woulfe Mining.

Almonty concurrently has acquired the ownership of Woulfe from Dundee and Dundee Resources at a deemed price of $0.056 per share.

As a result of the acquisition, the company directly owns and controls 29,497,229 Woulfe Shares, representing around 8% of the outstanding Woulfe Shares.

Pure Energy Minerals has signed an agreement with Nevada Alaska Mining (NAM) whereby NAM has granted the company a license to conduct mineral exploration and development testing on certain unpatented placer mining claims in Esmeralda County, Nevada.

NAM has also granted Pure Energy the option to acquire a 100% interest in the property.

Under the terms of the option, Pure Energy is entitled to buy a 100% interest in the property.

Paladin has announced the acquisition of strategically important tenements containing the Carley Bore uranium deposit from Energia Minerals for A$1.6m in cash.

The company will issue EMX 40 million Paladin fully paid shares and make a cash payment of A$1.6m million for the purchase of EMX's EL 08/1645 and EL 08/1646, a land package which covers a sedimentary basin hosting the Carley Bore uranium deposit in Western Australia.

"Under the terms of the option, Pure Energy is entitled to buy a 100% interest in the property."

The acquisition is subject to Australian Foreign Investment Review Board approval.

Premier Gold Mines has completed its acquisition of Goldcorp 40% interest in the South Arturo Mine project.

The project is located 8km north-west and along strike from Barrick Gold's Goldstrike operations, within the Carlin Trend in Nevada.

Premier paid $20m and has transferred to Goldcorp 5% of its interest in the Rahill-Bonanza JV in Red Lake. It also granted a right of first refusal to Goldcorp for a period of three years.

Tasman Metals has completed the previously announced acquisition of 100% interest in the Akanvaara and Koitelainen chromite projects in north-eastern Finland.

Under the terms of the letter of agreement with Kipu Metals the company has acquired the portfolio in exchange for a one-time cash payment of C$45,529.

The projects lie 75km apart in north-eastern Finland.


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