Deals this week: American CuMo Mining, Excelsior Gold

17 November 2016 (Last Updated November 17th, 2016 18:30)

American CuMo Mining Corporation has added the Calida Mine Property, mine located in south-eastern Idaho, US, to its portfolio after signing an agreement to earn a 100% interest in eight unpatented claims in the property.

American CuMo Mining Corporation has added the Calida Mine Property, mine located in south-eastern Idaho, US, to its portfolio after signing an agreement to earn a 100% interest in eight unpatented claims in the property.

The site has gold, silver and copper deposits.

The agreement gives American CuMo Mining an option to earn 100% interest in the property for ten years. 

"The site has gold, silver and copper deposits."

The company will make an initial payment of $40,000 for the same, which will be followed by further payments every six months.

Australian mining company Excelsior Gold has completed a private placement of new shares at a price of A$0.021 ($0.015) a share.

The issue included 105.7 million shares to raise gross proceeds of A$2.2m ($1.65m), which will be invested to support the production from the Zoroastrian open-pit, and for contingencies.