Deals of the week: Eurasian Minerals, Gold World Resources and more

13 September 2012 (Last Updated September 13th, 2012 18:30)

Gold and copper exploration company Eurasian Minerals (EMX) has acquired ownership in the Malmyzh porphyry copper-gold district in Far East Russia, by buying a 36% stake in InterGeo Resources (IGR).

Gold and copper exploration company Eurasian Minerals (EMX) has acquired ownership in the Malmyzh porphyry copper-gold district in Far East Russia, by buying a 36% stake in InterGeo Resources (IGR).

EMX has invested $3m through four separate private financings and is IGR's largest shareholder.

Metals exploration company Gold World Resources has purchased the 22km² Kempt Snare Lake (KSL) property in Nova Scotia, Canada.

In 2011, the possible opportunity to acquire 141 claims of mineralised property was brought to the attention of the company and was followed up with the staking of these claims earlier this year, to increase its assets and diversify its project locations while staying in Canada.

Copper Fox Metals has closed the acquisition of Sombrero Butte copper project located in Pinal County, Arizona, from Bell Copper, by agreeing to pay C$1m in cash.

The deal for the Van Dyke copper deposit, also owned by Bell Copper adjacent to Sombrero Butte, is still pending between the two companies.

Cabia Goldhills has signed binding agreements to own a stake in four artisanal mines, La Gloria Mine, El Fogaje Mine, Los Romanes Mine and El Turco Mine, located in the San Lucas gold belt of the Bolivar Department, Colombia.

Under the agreements, Cabia can explore the mines for two years, with an option to further extend the period by paying $10 for each ounce of reserves found.

Pan American Goldfields has signed an agreement for exploration, production and development of the Cieneguita Project in Mexico, with the operator Minera Rio Tinto and Marje Minerals.

The new agreement increases Pan American's net cash flow share in the project from the current 20% to 29% retroactively from 1 March, 2012, to 31 December, 2012. From 1 January, 2013, the stake will rise to 35%.