Deals this week: Kootenay Silver, Vanstar Mining, Yamana Gold

31 March 2016 (Last Updated March 31st, 2016 18:30)

Kootenay Silver has signed an agreement with Coeur Capital to acquire its 2.5% net smelter return royalty (NSR) on future production from Northair Silver's La Cigarra project in Chihuahua, Mexico.

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Kootenay Silver has signed an agreement with Coeur Capital to acquire its 2.5% net smelter return royalty (NSR) on future production from Northair Silver's La Cigarra project in Chihuahua, Mexico.

Under the terms of the agreement, Kootenay will pay $250,000 to Coeur in cash upon signing, followed by a second payment of $250,000 to be made on 19 April 2016.

The completion of the acquisition is not subject to the completion of Kootenay's proposed acquisition of all of the issued and outstanding shares of Northair.

“Yamana Gold has entered into an agreement with Altius Minerals, pursuant to which the latter will pay $60m to Yamana.”

Vanstar Mining has signed an agreement with Vantex Resources regarding the terms and conditions of the option agreement on the previously announced PRH Gold project, located in the mining area of Rouyn-Noranda.

The project consists of the Perron, Renault Bay and Hurd blocks of the Vantex-owned Galloway project.

It comprises 26 cells and three mining concessions, covering an area of 646ha.

Yamana Gold has entered into an agreement with Altius Minerals, pursuant to which the latter will pay $60m to Yamana.

Under the copper purchase agreement, Altius with get the right to receive payments of copper related to production from the company's Chapada mine in Brazil.

Altius paid a non-refundable deposit of $8m to Yamana in consideration of the agreement, with the balance of the advanced payment owing.

Silver Standard Resources has signed an agreement to acquire a 100% interest in the Perdito project in Inyo County, California.

The company completed duplicate surface sampling of 20 selected samples in November 2015 to confirm previously reported gold grades.

During December, airborne geophysical surveys were also performed over an area of around 420km², consisting of 2,097km of flight lines at 200m spacing.

Bass Metals is set to acquire the outstanding 93.75% of Graphmada Mauritius from StratMin Global Resources for up to A$15.25m.

The proposed consideration will value the business at A$16.267m.

Bass has already paid £500,000 and acquired 6.25% of Graphmada.


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