Deals this week: First Mining Finance, Westmoreland Coal, Crocodile Gold

14 May 2015 (Last Updated May 14th, 2015 18:30)

First Mining Finance has signed an agreement to acquire all of the outstanding common shares of Coastal Gold (COD).

Deals

First Mining Finance has signed an agreement to acquire all of the outstanding common shares of Coastal Gold (COD).

The transaction will be executed through exchange 0.1625 common shares in First Mining for each COD common share, through a court-approved plan of arrangement under the Business Corporations Act (Ontario), resulting in COD becoming a wholly owned subsidiary of First Mining.

All options of COD outstanding immediately before closing of the transaction will be exercisable for that number of common shares.

Westmoreland Coal, through its Coal Valley Resources subsidiary, has signed an agreement with Athabasca Minerals that will result in the production of aggregate from Westmoreland's Obed Mountain mine site.

Under the agreement terms, Athabasca will purchase the Obed rail transloading facility and royalty payments to Westmoreland for all gravel, sand and frac sand produced from the mine site.

Subject to standard due diligence , the deal is expected to close by the fourth quarter of 2015.

Crocodile Gold and Newmarket Gold have signed a definitive agreement to combine and create a new gold industry consolidator.

The combination (NewCo) will acquire high quality gold assets in best mining jurisdictions, and has improved capital markets exposure.

The transaction, which is subject to the approval of Newmarket and Crocodile Gold shareholders, is expected to close in the third quarter of 2015.

Harte Gold and Technica Mining have announced the signing of a heads of agreement on Harte Gold's Sugar Zone Deposit.

As per the agreement, Technica will mine the 70,000 tonne bulk sample under a $20m fixed price contract.

It will also receive $5m of the fixed price contract amount in the form of Harte Gold common shares at $0.15/share.

Agave Silver has announced that in late April 2015 it had reached an agreement with Hastings Highland Resources subject to Hastings board approval.

The exclusive option is to earn a 90% interest in Hastings' Limerick Township nickel-copper property in Ontario, Canada.

The Kaslo silver-lead-zinc property has a permit application set to proceed with an ecological and archaeological assessment completed by Kinbasket Development.


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