Deals this week: St Andrew Goldfields, Arizona Mining, Champion Iron

28 January 2016 (Last Updated January 28th, 2016 18:30)

St Andrew Goldfields has completed the acquisition of all of the outstanding common shares of Kirkland Lake Gold to create a Ontario-focused gold producer.

Mining

St Andrew Goldfields has completed the acquisition of all of the outstanding common shares of Kirkland Lake Gold to create a Ontario-focused gold producer.

Upon the closing of the agreement, St Andrew has become a wholly-owned subsidiary of Kirkland Lake Gold.

In connection with the closing of the deal, Kirkland Lake Gold has issued an aggregate of 33,367,488 common shares to the former shareholders of St Andrew.

Arizona Mining has completed the previously announced acquisition of 300 acres of patented mining claims near Taylor Deposit in Santa Cruz County, Arizona.

"The Butte Highlands underground gold project is being developed south of Butte, Montana."

The addition of the land package is expected to improve the company's surface lands available for further exploration of the Taylor deposit.

The company submitted a remediation work plan as part of which it will construct a passive water treatment system estimated to cost $2.9m.

Champion Iron has secured approval for the acquisition of the Bloom Lake Mine and related rail assets and the Quinto Mining mineral claims in Québec from Cliffs Québec Iron Mining, Bloom Lake Mine Iron Ore, Bloom Lake Railway Company and Quinto.

The approval was given by the Québec Superior Court under the Companies' Creditors Arrangement Act (Canada).

The company announced in December 2015 that Québec Iron Ore had signed an agreement to acquire Bloom Lake and the Quinto Claims in Québec from the Bloom Lake CCAA Vendors.

Timberline Resources has signed a letter of intent (LOI) for the sale of its 50% interest in Butte Highlands (BHJV) to New Jersey Mining (NJMC) of Coeur d'Alene, Idaho.

The Butte Highlands underground gold project is being developed south of Butte, Montana.

NJMC owns the fully permitted and developed Golden Chest Mine and Mill in north Idaho and futher plans to begin gold production at the Golden Chest Mine in 2016.

Coral Gold Resources has acquired complete ownership of the Norma, Sass, Ruf, and Eagle unpatented mining claims in Lander County, Nevada.

The properties were the subject of a joint venture involving the company as well as Levon Resources.

In consideration for the transfer of Levon's interest in the properties, Coral Gold has cancelled $53,258 in exploration expenditures.


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