Jinfeng mine, China

Eldorado Gold Corporation has reached an agreement to sell its 82% interest in Jinfeng gold mine, Guizhou, China, to a 100% subsidiary of China National Gold Group.

The $300m deal will be paid fully in cash and is expected to be complete in the third quarter of 2016.

Pacific North West Capital has announced the acquisition of the 100% interest in the Lithium Brine project, located in Clayton Valley, Esmeralda County, Nevada, US.

The due diligence period concerning the agreement is underway, with technical details of the deal then expected to be made public.

Severstal has completed the offering of $200m in senior unsecured guaranteed convertible bonds due in 2021. The initial conversion price is based on a premium of 17.5% to the offering price.

Bonds will be issued by Abigrove, a special purpose vehicle (SPV) based in Cyprus, and are being guaranteed by Severstal. The bonds will carry a coupon rate of 0.5% per annum payable semi-annually in arrears.

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By GlobalData

Gold Road Resources has announced the offering of approximately 98 million new shares in a private placement, to raise approximately A$43m ($33.22m). The price for each share is fixed at A$0.44 ($0.34) and the offering is expected to close in before the end of this month.

The company has also announced a new shares offering at a price of A$0.44 (USD0.34) per share, to raise approximately A$31m ($23.95m). Expected to close in May 2016, the offering entitles a new share for each ten shares held by an existing shareholder.


Image: The Jinfeng open-pit and underground gold mine in China’s southern Guizhou Province. Photo: courtesy of Eldorado Gold.