Deals this week: Curis Resources, Goldrush Resources, Novagold Resources and more

12 June 2014 (Last Updated June 12th, 2014 18:30)

Curis Resources has signed a deal with RK Mine Finance Trust 1 to extend the maturity date of the $40m loan taken in May 2012 to 31 May 2016. The loan was for the Florence copper project in Arizona, US.

130614_Deals

Curis Resources has signed a deal with RK Mine Finance Trust 1 to extend the maturity date of the $40m loan taken in May 2012 to 31 May 2016. The loan was for the Florence copper project in Arizona, US.

As per the previous offtake agreement, the maturity date was 9 May 2014 and was subject to a one year extension on certain conditions.

The deal also permitted RK Mine to buy up to 30% of the copper cathode produced in the project, which was subject to 100% of the loan being given to Curis.

Currently, $22.2m of the loan has been supplied to Curis, replacing its rights to buy 19% of the copper cathode offtake from the project instead of the earlier 30%.

Goldrush Resources has signed a share purchase agreement with Nord Prognoz to sell its 100%-owned Burkina Faso subsidiary, Goldrush Burkina, for $4.2m.

Goldrush Burkina features the Tikare and Kongoussi mineral permits that comprise the Ronguen project, which is located 10km north-west of Nordgold's Bissa gold mine and 100km north of Ouagadougou.

Before the completion of the deal, all the assets of Goldrush Burkina, except Tikare and Kongoussi permits, will be transferred to Goldrush's other subsidiary, Goldrush West Africa.

Finally, after closing the transaction, Goldrush West Africa will indirectly hold six mineral permits and one mineral permit in Burkina Faso.

Novagold Resources, along with its subsidiary Donlin Gold, has extended its surface use agreement with Kuskokwim for its Donlin Gold project in Alaska, which is claimed to be one of the world's largest undeveloped gold deposits.

The agreement paves way for development and production at the project, and also comes in-line with the Calista's exploration and mining lease.

The deal provides direct compensation to Kuskokwim through payments for project milestones, annual surface use and mine operation.

Additionally, it helps Kuskokwim in giving contracts, and hiring and training their shareholders, funding scholarships and also helps in creating and funding for training facility in the region.

Mining Global has secured a deal to process 250,000t of gold in Congress, Arizona.

The contracted tailings, which were previously processed during the end of the 19th century, have more value now due to the significant increase in gold prices.

Headquartered in Wickenburg, Arizona, Mining Global aims to develop and operate mines. It aims to create a robust portfolio of assets in North America with focus on organic growth and early stage acquisitions.

US Silver & Gold has announced that its workers at Galena Complex have come to a collective agreement for their contract proposal.

The agreement will be effective until June 2017, meanwhile, the economic terms will be reviewed in June 2016.

Located in the Silver Valley / Coeur d'Alene mining district, Shoshone County, Idaho, the Galena mine produces high-grade silver and is the second most prolific silver mine in the US, having produced more than 200Moz to date.

In addition to Galena mine, Toronto-based US Silver & Gold also owns the Drumlummon Mine Complex in Lewis and Clark County, Montana.


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

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