Deals this week: Endeavour Mining, Nevada Sunrise Gold, Grizzly Discoveries

24 September 2015 (Last Updated September 24th, 2015 18:30)

Endeavour Mining has entered a strategic partnership to acquire gold investment company La Mancha's indirect 55% interest in Société des Mines (SMI).

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Endeavour Mining has entered a strategic partnership to acquire gold investment company La Mancha's indirect 55% interest in Société des Mines (SMI).

SMI operates the Ity Gold Mine in Côte d'Ivoire, in addition to various regional exploration properties.

La Mancha will contribute $63m to the acquired businesses and has also expressed an in-principle commitment to invest up to $75m in additional funds to support Endeavour's growth.

Nevada Sunrise Gold has signed an agreement to purchase the Neptune property located in the Clayton Valley, Esmeralda County, Nevada, US.

To acquire a 100% interest in Neptune, Nevada Sunrise will issue up to 1,000,000 common shares of the company to the vendors and 200,000 common shares upon execution of the agreement.

Neptune comprises a block of 39 unpatented association placer claims totaling about 3,120 acres.

Grizzly Discoveries has signed an agreement with KG Exploration, the wholly owned subsidiary of Kinross Gold to explore and develop 27,346ha of Grizzly's land holdings in southeastern British Columbia.

Under the agreement terms, Kinross will have an option to earn a 75% interest in about one third of Grizzly's lands that form part of its 91,050ha of claims in the prolific Greenwood area.

By completing $3m in exploration expenditures, Kinross can earn a 75% interest in Grizzly's interest.

"By completing $3m in exploration expenditures, Kinross can earn a 75% interest in Grizzly's interest."

Candente Copper has completed the net smelter royalty agreements between two of its subsidiaries and Exploraciones Apolo Resources.

Pursuant to the agreements, Candente has granted a royalty for a 0.5% net smelter return on its wholly owned Cañariaco Copper project in Peru, in exchange for the aggregate sum of $500,000.

The aggregate sum was received from Entrée upon the successful registration of the agreements in Peru.

Consolidated Woodjam Copper has completed the previously announced acquisition of a 51% interest in the Woodjam project from Gold Fields Netherlands Services.

Following the acquisition, the company now controls 100% of the Woodjam copper-gold-molybdenum projects located near the community of Horsefly, located about 45km east of the regional centre of Williams Lake, British Columbia.

The company will also pay Gold Fields all past accumulated refundable BC mineral exploration tax credits that were earned in Gold Fields Horsefly, upon receipt.


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