Deals this week: Wealth Minerals, Inception Mining, Canarc Resource

8 October 2015 (Last Updated October 8th, 2015 18:30)

Wealth Minerals has completed the transaction to acquire Coronet Metals’ Peruvian subsidiary.

Wealth Minerals has completed the transaction to acquire Coronet Metals' Peruvian subsidiary.

Following the acquisition, the company now owns 100% of the Yanamina Gold Project in Peru.

In connection with closing of the acquisition, Wealth issued 750,000 common shares to Coronet and will further have to issue an additional 250,000 common shares to Coronet on or before 7 April 2016.

Inception Mining has announced the acquisition of Clavo Rico, a Turks and Caicos company.

Under an agreement dated 4 August 2015, Clavo Rico has merged with a subsidiary of Inception and became its wholly owned subsidiary.

Clavo's principal mining operations in Honduras, Central America will now operate as a wholly owned subsidiary of the company.

Canarc Resource has signed an agreement to acquire 100% of the shares in Marlin Gold's wholly owned subsidiary company, Oro Silver Resources.

Oro owns the fully permitted El Compas Gold-Silver Mine Project in Zacatecas, Mexico.

Closing of the transaction, estimated on or before 30 November, would be subject to receipt of all necessary regulatory approvals.

Discovery Ventures has acquired the remaining 65% of the outstanding share capital of FortyTwo Metals.

Following the acquisition, the company will now own 100% of the share capital of FortyTwo.

FortyTwo holds the Max Mine which includes an underground molybdenum mine, around $50m tax loss, crushing, milling and concentrating facilities, tailings storage facilities.

Skeena Resources has acquired a 100% interest in the GJ property from majority owner Teck Resources and its 49% joint venture partner, NGEx Resources.

The property consists of 80 mineral claims totaling 37,508ha and is located adjacent to the eastern boundary of Skeena's Spectrum Project in the Golden Triangle of north-west British Columbia, Canada.

The main property claim block will be subject to a 2% net smelter return royalty in favour of Teck and NGEx.