Deals this week: Cerro Vanguardia, Sandstorm Gold, Amarc Resources

3 March 2016 (Last Updated March 3rd, 2016 18:30)

Cerro Vanguardia has signed an agreement to explore Mirasol Resources’ Claudia gold silver project in Santa Cruz province Argentina.

Trucks

Cerro Vanguardia has signed an agreement to explore Mirasol Resources' Claudia gold silver project in Santa Cruz province Argentina.

Under the agreement, CVSA has an option to acquire up to a 75% interest in the project, which contains a series of large scale gold silver prospects.

CVSA operates the Cerro Vanguardia gold and silver mine located next to Mirasol's 127,680ha Claudia project.

Sandstorm Gold has amended its agreement with Entrée Gold, as part of which Sandstorm can purchase metal credits from Entrée equivalent to 5.62% and 4.26% of the gold and silver by-products produced from the Hugo North Extension and Heruga deposits in Mongolia, respectively.

The company can also purchase 0.42% of the copper produced from the deposits.

The $5.5m in proceeds from the new agreement will be used to repay amounts owing on Sandstorm's revolving debt facility.

Amarc Resources has finalised an agreement with Thompson Creek Metals to advance the IKE porphyry copper discovery in south-central British Columbia (BC).

Under the agreement, Thompson Creek has the option to acquire up to a 50% interest in the project through a staged investment process.

The IKE copper-molybdenum-silver porphyry discovery has the potential to possess the grades and resources necessary to develop an important mining camp.

Firma has acquired and took control of the Magistral Del Oro tailings project located in in Santa Maria Del Oro, Durango, Mexico.

The acquisition includes a 500 TPD dynamic cyanide counter current system plant.

"The IKE copper-molybdenum-silver porphyry discovery has the potential to possess the grades and resources necessary to develop an important mining camp."

Contruction of the plant was completed in 2013 and involved an investment of approximately $4.5m.

Dundee Precious Metals has signed an agreement to sell its interest in the Kapan mine in Armenia to Polymetal International.

Under the proposed transaction, Dundee will receive consideration of $10m from the buyer.

The company will also receive $15m in Polymetal ordinary shares and a 2% net smelter royalty on future production from the Kapan property capped at $25m.


Image: Several mining deals were signed this week. Photo: courtesy of duron123/FreeDigitalPhotos.net.