Deals this week: NovaCopper, Northern Superior Resources, Royal Road Minerals

23 April 2015 (Last Updated April 23rd, 2015 18:30)

Base metals exploration company NovaCopper has agreed to acquire all of the issued and outstanding common shares of Sunward Resources.

Mine_Deals

Base metals exploration company NovaCopper has agreed to acquire all of the issued and outstanding common shares of Sunward Resources.

The companies will create an exploration and development company, which will have a balance sheet of about $23m in cash to advance the Arctic and Bornite deposits in the Ambler mining district of Alaska.

NovaCopper plans to develop the deposit towards feasibility with up to 10m field programme this year.

Northern Superior Resources has signed an agreement with Chalice Gold Mines' subsidiary with regard to its Croteau Est gold property located near Chibougamau in Québec, Canada.

Croteau Est gold property consists of 213 claims totalling about 8,316ha, which are wholly owned by Northern Superior, and 109 claims of about 3,856ha are under option from GL Geoservices and Mark Bouchard.

It is managed under a pre-development agreement with the First Nation community of Oujé Bougoumou, the Cree Regional authority and the Grand Council of the Cree.

Mineral exploration and development company Royal Road Minerals has announced amendments to the terms of its option agreement covering the Gömeç, Gökçeada and Ispir licenses in Turkey.

Following these, changes will be made to the earn-in provisions regarding the option licences and new provisions for sale of certain of these licenses.

In accordance with the amended terms of the agreement, to earn this interest, the company and its wholly owned subsidiary RRM Turkey must spend an aggregate of $2m on exploration and development work at the projects.

Glen Eagle Resources' subsidiary Cobra Oro de Honduras has signed a three-year contract with Inversiones Pacuari to supply Cobra Oro's processing plant with 100t a day of mineralised material grading on average five grams of gold a tonne (g/t) and 130g/t silver.

Located on Inversiones Pacuari's concession, the material has already been extracted and forms part of a large dump site located about one hour away from Cobra Oro's processing plant.

In the last six weeks, more than 600t of the material has been bulk sampled and processed at Cobra Oro's processing facilities.

Solvista Gold and Rockcliff Resources have signed an amalgamation agreement whereby Solvista will acquire all of the issued and outstanding common shares of Rockcliff.

Pursuant to the transaction, which will be effected by way of a three-cornered amalgamation, Solvista will amalgamate with Rockcliff.

The newly amalgamated company will hold all of Rockcliff's assets as a wholly owned subsidiary of Solvista.


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