Deals this week: Prospero Silver, Monarques Gold, Condor Resources

19 November 2015 (Last Updated November 19th, 2015 18:30)

Prospero Silver has signed an agreement with Golden Minerals of Colorado to conduct mining operations on the Santa Rosa vein system on Prospero's San Luis Cordero property in Durango State, Mexico.

Prospero Silver has signed an agreement with Golden Minerals of Colorado to conduct mining operations on the Santa Rosa vein system on Prospero's San Luis Cordero property in Durango State, Mexico.

Presently on care and maintenance, the Velardeña Mine is owned by Golden Minerals.

Golden Minerals plans to perform studies on the Santa Rosa vein, which may include de-watering of the old mine in addition to collecting and assaying fresh samples from the exposed vein, followed by metallurgical test work.

Monarques Gold has signed a letter of intent to acquire the Beacon property from 9965-9911 Québec.

The property comprises a metallurgical processing plant, tailings management ponds, underground installations, a 500m deep shaft.

The plant is located on Route 117, at the entrance to Val-d'Or, near Chemin du Lac Sabourin.

"The partnership will continue work to develop the leachable copper resource at Irmin to construct a 25Mtpa SXEW plant."

Condor Resources has concluded royalty agreements through its Peruvian subsidiaries on two of its wholly owned projects located in Peru.

Minas Lucero del Sur has concluded a production royalty agreement with a Peruvian company on the Lucero project, and Condor Exploration Peru has concluded an agreement with the operator on the Chavin project.

Lucero is in southern Peru, 25km south-east of Buenaventura's Orcopampa mine, and Chavin is located in the Ancash Department of Peru, 45km north-west of Barrick's Pierina mine.

Indico Resources has reached an agreement with the community of Arirahua to acquire 876.8ha of surface rights, covering the operations area at the Irmin project in Peru.

The partnership will continue work to develop the leachable copper resource at Irmin to construct a 25Mtpa SXEW plant.

Comprising 23 concessions covering 123km², the property is located on the north-west extension of the Southern Peru Porphyry Copper Belt.

Canada-based First Mining Finance has completed the acquisition of all of the common shares of each of Gold Canyon and PC Gold.

Under the agreement, each Gold Canyon shareholder is entitled to receive one common share of First Mining for each common share of Gold Canyon.

Unexercised Gold Canyon warrants and Gold Canyon stock options will entitle the holder to acquire one common share of First Mining for each Gold Canyon common share that was provided for earlier.