Cupric Canyon Capital, a private equity firm backed by Barclays Capital, has completed the acquisition of all of the issued and outstanding common shares of Canadian exploration and development company Hana Mining for a total consideration of CAD$67m ($65.76m), valuing Hana at CAD$82m ($80.49m).
The South America-focused mineral exploration company QRS Capital has signed an option agreement to fully acquire a 3,560ha portion of the Aurum Copper project in central Chile.
The project is a 7,960ha copper, silver and gold mineralised property; QRS will earn 100% control after 51 months subject to cash payments of $2.8m during the first three years and additional cash payments of $4.9m in the latter stages of the agreement.
Precipitate Gold has signed an agreement with Gunpoint Exploration to purchase a 100%-interest in the Cecilia gold-silver project in north-eastern Sonora State, Mexico.
Precipitate president and CEO Jeffrey Wilson stated, "We're pleased with the opportunity to complement the value in our Dominican Republic assets by securing an option to acquire the Cecilia property, as it expands our project portfolio with a more advanced, highly prospective precious metal project in another jurisdiction with rich mineral endowment, year-round exploration access, and favourable mining and taxation policies."
Paramax Resources has agreed to acquire all of the issued and outstanding common shares of Canadian mining exploration company Mega Graphite.
Mega Graphite fully owns the Bedford and Burgess graphite projects, located proximal to each other in Ontario.
Under the transaction, each current shareholder of Mega Graphite will receive one common share of Paramax at a price of $0.30 a share for each 12.8523167 shares of Mega Graphite.
Industrial engineering group Weir has acquired the Canada-based R Wales group of companies, a manufacturer of wear resistant linings for the mining, minerals processing and oil sands industries.
The company also acquired Malaysia-based Cheong foundry and the plant, equipment and buildings of Xmeco Foundry in South Africa.
With £55m worth of acqusitions, Weir has reinforced its presence in the mining markets.
Image: Cupric Canyon and Weir have undertaken significant aquisitions this week. Photo: freedigitalphotos.net.