Deals this week: Nickel Mountain Group, Stockport Exploration, Globex Mining

7 January 2016 (Last Updated January 7th, 2016 18:30)

Nickel Mountain Group (NMG) has announced the sale of its Rönnbäcken nickel project (RNP) to Sweden-based Archelon.

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Nickel Mountain Group (NMG) has announced the sale of its Rönnbäcken nickel project (RNP) to Sweden-based Archelon.

As part of the transaction, Archelon will acquire NMG's 99.64% ownership of the subsidiary Nickel Mountain Resources.

This subsidiary in turn completely owns the license holding company Nickel Mountain.

Stockport Exploration has signed an agreement with Australia-based Ardiden to acquire 100% of Stockport's Seymour Lake concessions in Ontario, Canada.

Under the agreement, Ardiden will pay $75,000 to Stockport on signing of the agreement and $75,000 at the end of a due diligence period.

Seymour Lake is a lithium-beryllium-tantalum site located within the Caribou Lake Greenstone Belt, 230km north-north-east of Thunder Bay and covers an area of about 5km-6km.

Canada-based Globex Mining Enterprises has acquired 100% interest in the Golden Pike Property from Rockport Mining.

The property comprises 119 claims totalling 1,904ha and includes the main and parallel gold zones.

Under the agreement, Globex will pay Rockport Mining 350,000 shares of the company and a 1% net smelter royalty after the property produces 600,000oz of gold.

First Mining Finance has completed the previously announced acquisition of all the issued and outstanding shares of Goldrush Resources.

"The operation has a capacity of 640,000t per year."

Under the agreement, each shareholder of Goldrush will receive 0.0714 First Mining common shares for each common share of Goldrush.

With the completion of the latest transaction, First Mining Finance has now closed four acquisitions in less than ten months of becoming publicly traded.

Almonty Industries' subsidiary Almonty Korea Tungsten (AKTC) has signed an agreement with Korea Engineering Consultants (KECC) to conduct detailed engineering and design work on a mineral processing plant and mine facilities for a tungsten ore processing operation at the Sangdong tungsten mine.

The operation has a capacity of 640,000t per year.

KECC conducted basic design work on the project in May 2015 and is now proceeding with detailed design and engineering to support the start of construction.


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