Deals this week: Integra Gold, Northern Minerals, Ashburton Ventures

20 August 2015 (Last Updated August 20th, 2015 18:30)

Integra Gold has signed an agreement with Eldorado Gold, whereby the latter will invest $14.6m in Integra by way of a non-brokered private placement of common shares of Integra.

Dump Truck

Eldorado Gold will invest $14.6m in Integra Gold by way of a non-brokered private placement of common shares of Integra.

Following the private placement, Eldorado will hold 15.0% of Integra's issued and outstanding common shares on an undiluted basis.

Under the terms of the agreement, Eldorado will purchase a total of 52,058,200 common shares of Integra for gross proceeds of $14,576,296.

Northern Minerals has signed a memorandum of understanding with Jien Mining for the offtake of 50% of production from the Browns Range project located near Halls Creek in Western Australia.

The parties will commence negotiations on joint marketing of rare earths from Browns Range.

Northern Minerals reached a $49.5m funding agreement with Jien Mining in February 2015.

Ashburton Ventures has acquired the GC West property, prospective for lithium mineralisation, located about 14km west-northwest of the City of Revelstoke, British Columbia, Canada.

Located about 135m west of the 'GC' lepidolite Minfile occurrence, the GC West property comprises a coarse-grained, lepidolite-bearing pegmatite dike hosted within a mica schist.

The company intends to commence a work programme to trace the lepidolite-bearing unit onto its GC West property shortly.

Galway Gold has announced that AAV, an indirect wholly-owned subsidiary of Mubadala Development has acquired ownership of 28,982,394 common shares of Galway Gold.

The shares have been acquired in separate tranches of 20,287,675 shares (10 February 2015) and 8,694,719 shares (14 August 2015)of which the latter tranche is held in an escrow.

The common shares were acquired for $2,318,592.

Next Graphite in Namibia has acquired the remaining 10% ownership stake for mining rights at the 125,000 square acre Aukam property.

The company acquired 90% of the prospecting license in November 2013 in addition to rights to conduct operations in the Aukam license area.

Next Graphite acquired the license from Gazania Investments.


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