Deals this week: Hecla Mining, DNI Metals, NovaCopper

18 June 2015 (Last Updated June 18th, 2015 18:30)

Hecla Mining has announced the completion of its $19m acquisition of Revett Mining.

Hecla Mining has announced the completion of its $19m acquisition of Revett Mining.

Under the deal, the company acquired the Rock Creek Project, considered to be one of the largest undeveloped silver and copper deposits in North America.

The shareholders of Revett will receive a letter of transmittal within the next ten days to exchange each outstanding share of the company for 0.1622 of a common share of Hecla.

DNI Metals has signed an agreement with Mamy Estelle Randrianasolo and Robert Barnes for the acquisition of a graphite mineral exploration project in Madagascar.

Under the agreement, DNI Madagascar will acquire the mining permit covering the property in exchange for an aggregate of $400,000 in cash.

Robert Barnes will lend a loan amounting to $380,000 to DNI Metals.

NovaCopper and Sunward Resources shareholders have approved the acquisition of Sunward by NovaCopper.

Under the agreement, each shareholder of Sunward will receive 0.30 of a NovaCopper share for each common share of Sunward held.

Regarding the arrangement, 99.36% of shares represented at the NovaCopper meeting were voted in favour of the issuance of common shares of NovaCopper.

Santacruz Silver Mining's subsidiary Impulsora Minera Santacruz has successfully renegotiated terms of its agreement with Minera Hochschild Mexico.

The agreement will see Impulsora acquiring a 100% interest in the San Felipe project and adjacent El Gachi property located near Hermosillo, Sonora, Mexico.

According to the terms of the recently amended agreement, Impulsora can now acquire 100% of the San Felipe project and the El Gachi property by paying $19,000,000.

Sun Valley Gold has acquired control and direction over 15,784,100 common shares of West Kirkland Mining on behalf of Sun Valley Gold Master Fund.

The 15,784,100 common shares were purchased pursuant to a private agreement with a single shareholder of West Kirkland.

Once the transactions are complete, on behalf of the Master Fund, Sun Valley exercises control and direction over 89,238,400 common shares and 1,778,000 warrants.