Deals this week: GeoVenCap, Ridgemont Iron and more…

22 March 2012 (Last Updated March 22nd, 2012 18:30)

GeoVenCap has completed the previously announced acquisition of Blue Note Mining for total consideration of $7.94m.

GeoVenCap has completed the previously announced acquisition of Blue Note Mining for total consideration of $7.94m.

The company will acquire all of Blue Note's mineral properties in New Brunswick, Canada, and will pay 11,120,000 common shares and 4,772,876 special warrants for $0.50 per share.

Ridgemont Iron Ore Corp has entered into a letter of intent (LOI) to acquire all of the issued and outstanding common shares of IronOne.

Under the terms of the LOI, Ridgemont will acquire all of the outstanding shares in for $11.9m, payable in common shares of Ridgemont at $0.40 per share.

Wesgold Minerals has completed the first tranche of its previously announced, non-brokered private placement by issuing 2.4 million units at $0.75 per unit, for total consideration of $1.8m.

The company will use proceeds of the placement for the acquisition and exploration of the Cordoba Property, Colombia, and for general working capital purposes.

Lumina Copper Corp has acquired mineral concessions of Corriente Argentina, for a total consideration of $2.1m.

The company will issue 42,169 common shares for the proposed sale.

Cartier Resources has signed an option and joint venture agreement with SOQUEM to acquire a 50% interest in the Fenton Gold Deposit in Quebec, Canada.

Under the terms of the agreement, Cartier has an option to earn a 50% undivided interest in the Fenton project.

Caribou King Resources has acquired seven contiguous unpatented block prospective mining claims in the Timmins Mining District in Ontario, Canada.

The company has agreed to pay $20,000 and provide 750,000 shares on signing, with a $100,000 work commitment in year one of the agreement.