MGX Minerals has completed the acquisition of the Pond magnesium occurrence and Marysville magnesium project from Teck Resources, formerly known as Consolidated Mining Company of Canada – COMINCO.
The Pond dolomite occurrence is 60km north of Cranbrook, British Columbia, Canada, where eight drill holes have been completed and two mineralised zones have been outlined by the previous operator.
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Marysville is located 25km north of Cranbrook, British Columbia, and covers an area of approximately 480ha.
Millennial Lithium (formerly Redhill Resources) and an undisclosed Argentinean vendor have entered a binding property purchase agreement. This is based on Millennial Lithium wholly acquiring a lithium project from the Argentinean vendor, located in Salta Province Argentina, in exchange for $3.2m in cash and stock.
The agreement also entails a grant of 1.5% net smelter royalty (NSR) to the vendor, which Millennial has the option to repurchase by paying the vendor $3m.
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Komet Resources (Komet) has announced that subscription to the company’s 13,129,567 common shares issued through a non-brokered private placement has been completed. Top Premier has acquired 6,564,784 common shares, while Dynamics Management acquired the remaining 6,564,783.
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By GlobalDataThe common shares were issued at a price of C$0.36 ($0.27) each, for gross proceeds of C$4.7m ($3.64m). Komet intends to use the proceeds for procurement of production-related equipment and for exploration activities on the company’s properties.
Corvus Gold has announced that Osisko Mining has subscribed to the 2.55 million common shares issued by the former in a non-brokered private placement.
The shares were priced at C$1.02 ($0.78) each with no warrant, for gross proceeds of C$2.6m ($2m), representing approximately 2.8% of the outstanding common shares.
The proceeds from the offering will be used to speed-up the company’s North Bullfrog exploration programme in 2016 and beyond.
