Deals this week: Kingsgate Consolidated, Condor Resources, McEwen Mining

25 February 2016 (Last Updated February 25th, 2016 18:30)

Kingsgate Consolidated has signed an agreement to sell 85% strategic interest in the Bowdens Silver project near Mudgee in central New South Wales, Australia, to Silver Investment Holdings Australia (SIHA) for A$20m.

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Kingsgate Consolidated has signed an agreement to sell 85% strategic interest in the Bowdens Silver project near Mudgee in central New South Wales, Australia, to Silver Investment Holdings Australia (SIHA) for A$20m.

As part of the deal, SIHA will acquire 100% of the capital of Kingsgate Bowdens.

Upon completion, Kingsgate and SIHA will immediately be associated in an unincorporated joint venture with Kingsgate retaining an initial 15% free carried interest.

Condor Resources has concluded its previously announced agreement with Compañia Minera Casapalca on the Soledad project in Ancash, Peru.

At the fully permitted Soledad project, Casapalca hopes to begin drilling operations later in February 2016.

In 2014, a first phase, 12-hole, 2,084m diamond drill programme completed at the project.

McEwen Mining has completed the acquisition of the Afgan-Kobeh property in Nevada for $450,000.

Afgan-Kobeh hosts a near surface, oxide gold resource in proximity to the company's Gold Bar Complex.

The property is located towards the south-east limit of the Battle Mountain-Eureka-Cortez mineral trend in Eureka County.

Gentor Resources has signed a letter of intent (LoI) with Turkey-based mining company Lidya Madencilik Sanayi ve Ticaret for a proposed joint venture to further develop the company's Karaburun project.

The LoI sets out the intention to grant to Lidya an option to acquire an 80% interest in the project.

During the option period, the company will perform exploration at the project under work programmes and budgets determined by it in consultation with Gentor.

Eurasian Minerals has signed an agreement for net smelter return (NSR) royalty interests on the Maggie Creek and Afgan gold properties in Nevada, US from Golden Predator.

Golden Predator owns a 2% NSR royalty on all precious metals and a 1% NSR royalty on all other minerals for the property.

The addition of these two assets is expected to bolster Eurasian Minerals' growing gold portfolio in Nevada that includes the Leeville royalty property and the Maggie Creek South royalty property.


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