Deals this week: Inner Mongolia, Marathon Gold, China Shenhua Energy and more

24 May 2012 (Last Updated May 24th, 2012 18:30)

Zoje Sewing Machine is planning to acquire Inner Mongolia's Tuquan Xiliduo Mining for a total consideration of about CNY200m ($31.5m).

Zoje Sewing Machine is planning to acquire Inner Mongolia's Tuquan Xiliduo Mining for a total consideration of around CNY200m ($31.5m).

The mine, located in Yongan Town, has total annual copper powder production capacity of 90,000t.

Marathon Gold has signed a binding arrangement agreement with Mountain Lake Resources to acquire all of its outstanding common shares in the company for $15.1m.

The transaction will consolidate Mountain Lake and Marathon's respective 50% interests in the Valentine Lake Project in Newfoundland, Canada, resulting in Marathon becoming the 100% owner of the project.

West Cirque Resources has completed the acquisition of a 100% interest in two mineral claims adjacent to the Four Mile copper project in British Columbia, Canada.

The claims cover the Gunsight showing, a recessive structural zone of polymetallic quartz-carbonate-adularia veining within brecciated hornblende granodiorite.

The zone trends parallel to the overall west-northwest mineralised trend and carries sulfides including galena, sphalerite, pyrite, arsenopyrite and chalcopyrite.

Premier Gold Mines announced that its subsidiary Premier Royalty Corp has agreed to purchase a 1% net smelter return on the Gualcamayo gold mine from Golden Arrow Resources.

Under the terms of the agreement, Premier Royalty has agreed to purchase 100% of the shares of Golden Arrow's wholly-owned subsidiary, which indirectly owns the royalty, for cash consideration of $16.5m.

The sale also includes warrants to purchase an aggregate of up to 1 million shares of Premier Royalty at an exercise price equal to 120% of the price of Premier Royalty's shares in connection with an initial public offering or similar going public transaction.