Deals this week: Goldcorp, Lithium Americas, Batero Gold

27 August 2015 (Last Updated August 27th, 2015 18:30)

Goldcorp signed an agreement to purchase New Gold's 30% interest in the El Morro copper-gold project in Chile.

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Goldcorp signed an agreement to purchase New Gold's 30% interest in the El Morro copper-gold project in Chile.

Following the acquisition, the company will own 100% of the project.

Under the agreement terms, Goldcorp will pay $90m to New Gold at closing and a 4% gold stream on future gold production from El Morro.

Lithium Americas has executed an agreement with POSCO with regard to the commercialisation of the company's Cauchari-Olaroz lithium project in Jujuy Province, Argentina.

The companies' decision is based on the successful results surrounding the operation of POSCO's new lithium extraction demonstration plant.

The plant has an operating capacity of 200t a year of lithium carbonate equivalent and was inaugurated at the LAC Cauchari project site in December 2014.

Batero Gold has acquired 375,000 common shares of CB Gold.

In accordance with securities laws, the company had earlier disclosed in its takeover bid circular in respect of its offer to acquire all of the issued and outstanding common shares of CB Gold.

The highest price paid by Batero for the CBJ shares was $0.045 for each CBJ common share.

Red Eagle Mining has reconfirmed superior offer to acquire CB Gold.

The share exchange takeover bid includes consideration to CB Gold shareholders of 0.162 Red Eagle Mining shares for each CB Gold common share issued and outstanding.

Shareholders are encouraged to provide tender instructions well in advance of the expiry.

Gowest Gold has completed its previously announced transaction with Crown Mining, pursuant to which it has acquired a 100% interest in four patented claims, totalling 64ha, in Whitney Township near Timmins, Ontario.

The claims adjoin the north and north-west boundary of the Hallnor property and lie about 1km north-west of the Hallnor Gold Mine.

Gowest's total land holdings in the Timmins Gold camp currently total approximately 11,000ha.


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