Deals this week: Cyprium Mining, Tungsten Mining, American Graphite Technologies

29 October 2015 (Last Updated October 29th, 2015 18:30)

Cyprium Mining has closed the acquisition of a 53% controlling joint venture (JV) interest in Potosi silver mine in Mexico.

Zonia

Cyprium Mining has closed the acquisition of a 53% controlling joint venture (JV) interest in Potosi silver mine in Mexico.

The JV owns the exclusive exploitation and exploration rights of the mine, the exclusive rights of possession, usage and operations to the San Guillermo processing facility.

The JV will have a term of 20 years and carried out through Mexico-based JV CYPVAL Mining.

Tungsten Mining has agreed to acquire the Australian tungsten exploration assets of Hazelwood Resources consisting of the Mt Mulgine and Big Hill tungsten assets.

The Hazelwood projects include the 100%-owned Big Hill project in the East Pilbara of Western Australia.

Hazelwood also owns 100% of the tungsten and molybdenum rights to the Mt Mulgine project, 350km from Perth.

American Graphite Technologies has acquired a 100% interest in Lac Rouge Graphite Property in Canada.

As part of the acquisition, the company acquired 84 mineral claims, totalling 4,982ha of prospective graphite claims in the province of Quebec.

The property has good infrastructure support and is easily accessible from a provincial highway from Montréal.

Inca One Gold has signed an agreement to acquire certain assets of Montan.

The transaction is expected to increase the footprint of Inca One in Peru immediately.

It would further build further economies of scale to complement the company's recently announced acquisition of Standard Tolling.

Cardero Resource has completed the first scheduled payment of $150,000 to Redstone Resources with respect to acquisition of the company's Zonia Copper-Oxide Deposit.

Zonia is a near-surface copper-oxide resource and has a brownfields site which has already been pre-stripped.

The deposit is amenable to truck and shovel open-pit mining and copper recovery through leaching and SX-EW processing to copper cathode.


Image: The existing open-pit at the Zonia Mine site. Photo: courtesy of Cardero Resource Corp.