Deals this week: Indico Resources, Globex Mining, Batero Gold

10 September 2015 (Last Updated September 10th, 2015 18:30)

Indico Resources has signed an agreement with Aruntani to develop the Irmin Copper project in the Arequipa region of Peru.

Indico Resources has signed an agreement with Aruntani to develop the Irmin Copper project in the Arequipa region of Peru.

As per the terms of the agreement, Aruntani is expected to own 70% of the project after spending $18.7m, while the remaining 30% will be owned by Indico.

Under the partnership, the companies will continue to develop the leachable copper resource at Irmin to construct a 25Mtpa solvent extraction and electrowinning (SXEW) plant.

Globex Mining has acquired a 100% interest in a high-grade gold property, which comprises 44 cells totalling 2,405ha.

The property, located about 10km northwest of the Cree Village of Waswanipi, Quebec has not been explored in over 40 years.

NA Timmins discovered gold on the property in 1949.

Canada-based Batero Gold has signed an agreement to increase an offer to acquire CB Gold.

The offer made by the company represents a substantial 23% premium to the Red Eagle Mining offer based on 4 September 2015 closing prices.

The offer value represents a 71% premium to the closing price of CBJ common shares on 23 July 2015.

Altiplano Minerals has signed an amended agreement to that which was previously announced, to acquire all of the issued and outstanding shares of Demetra Minerals.

As per the agreement, the company will raise up to $1.25m prior to the acquisition.

The acquisition is subject to the delivery of a satisfactory NI 43-101 report on the property as well as other approvals.

AuRico Metals has acquired Mineral Streams, which owns a 0.25% net smelter return (NSR) royalty on the Williams mine at Barrick Gold's Hemlo complex, and a 0.5% NSR royalty on Wesdome Gold Mines's Eagle River mine.

The company also owns a 1.5% royalty on Barrick's David Bell property, which is also part of the Hemlo complex.

Under the terms of the agreement, AuRico will pay C$6,850,000 for all of the outstanding shares of Mineral Streams at closing.