Deals this week: Orosur Mining, Eastern Platinum, Wallbridge Mining

11 June 2015 (Last Updated June 11th, 2015 18:30)

South American gold producer Orosur Mining has signed the definitive option agreement with Asset Chile Exploración Minera Fondo de Inversión Privado (AC) in relation to the company's Anillo project in northern Chile.

South American gold producer Orosur Mining has signed the definitive option agreement with Asset Chile Exploración Minera Fondo de Inversión Privado (AC) in relation to the company's Anillo project in northern Chile.

Under the agreement, AC is likely to earn up to a 40% interest in Orosur's interest in the project.

From the date of execution of the agreements, AC has 40 days to get CORFO support and to contribute the phase 1 funding totalling $850,000.

Eastern Platinum has signed a deal with Hebei Zhongbo Platinum to restructure the transaction, with HZP buying the company's entire platinum group metal (PGM) business.

HZP will also acquire all investments and loan agreements that Eastplats has with its subsidiary companies.

The agreement will see the parties go ahead with completing the purchase and sale of the Crocodile River Mine and associated inter-corporate loans for $85,000,000.

Wallbridge Mining's spin-out company Miocene Resources has received TSX Venture Exchange approval in respect of its proposed transaction with the mineral exploration company Carube Resources.

The approval is subject to completion of the balance of the equity financing being $1,645,800 and the proposed debt settlements.

Wallbridge subscribed for $610,000 in Miocene's hard unit offering priced at C$0.20 per unit in a bid to support and preserve its investment in Miocene.

Montan Mining has announced the signing of a final definitive agreement with Goldsmith Resources for the acquisition of the producing Mollehuaca Gold Processing plant.

The company will also acquire mining rights for the nearby Eladium Gold Mine and the Saulito Property in Arequipa region, southern Peru.

Recently, the Mollehuaca plant was expanded and has both a 150 TPD carbon-in-pulp (CIP) circuit, as well as a flotation circuit.

Osisko Gold Royalties has reached a deal to purchase up to 181,818,181 common shares of Oban Mining for up to $20m.

The shares will be acquired by Osisko in connection with the completion of certain transactions announced by Oban.

The completion of the deal is subject to the satisfaction of certain conditions precedent, which include that Osisko holds no more than 19.9% on a non-diluted basis of the issued, as well as outstanding common shares of Oban.