Deals this week: ATAC Resources, Harvest Gold, Electrum and more

10 May 2012 (Last Updated May 10th, 2012 18:30)

ATAC Resources has completed the acquisition of Klondike Silver Corp in Yukon, western Canada.

ATAC Resources has completed the acquisition of Klondike Silver Corp in Yukon, western Canada.

The company said it has acquired a 50% stake in the Connaught silver property, bringing ATAC's total interest in Connaught to 100%.

Harvest Gold Corp has signed a letter of intent (LOI) with DLK Minerals to acquire the Esker project near Pickle Lake in Ontario, Canada.

The Esker project is located within the Pickle Lake Greenstone Belt, and is part of the prolific Uchi Subprovince where historic production exceeded 30 million ounces of gold.

Electrum Strategic Resources said that it has acquired ownership of 8.8 million common shares of NovaCopper and warrants exercisable for an additional 5.2 million shares.

The move follows a plan of arrangement completed by NovaGold Resources to spinoff Nova Copper into a separate company on 30 April 2012.

Rhino Resource Partners has purchased rights to coal leases and surface property located in Daviess and McLean counties in western Kentucky, US.

The coal leases and property are estimated to contain about 30 million tonnes of non-reserve coal deposits and approximately 12,100 leased acres that are contiguous to the Green River.

North American Palladium has signed a definitive agreement with Houston Lake Mining to acquire Lake Platinum Group Elements (PGE) property in Ontario, Canada, following completion of cash payments and exploration expenditures.

The property contains significant PGE exploration targets.

NAP will also have an option to earn a 100% interest in the 2,464ha Tib Lake PGE property from HLM.

The company will make staged payments totalling C$450,000 ($448 207) to HLM and will incur exploration expenditures of C$1.6m ($1.5m) over five years.

Borneo Resource Investments has signed an agreement to acquire 90% of BT Berkat Banua Masanggu which holds an 8,800 hectare thermal coal mining concession in the South Kalimantan Province, Indonesia.

The concession contains estimated reserves of approximately six million metric tonnes of high-quality thermal coal.