Deals this week: INV Metals, Prophecy Coal, San Gold, Stelmine and more

21 June 2012 (Last Updated June 21st, 2012 18:30)

INV Metals has entered into a definitive agreement with IAMGOLD Corporation to acquire the Quimsacocha Project in Ecuador for approximately $30m.

INV Metals has entered into a definitive agreement with IAMGOLD Corporation to acquire the Quimsacocha Project in Ecuador for approximately $30m.

INV Metals will acquire all of the shares of IAMGOLD Ecuador to be satisfied by the issuance of 150 million common shares of the company.

Prophecy Coal Corp has signed an agreement to acquire assets relating to certain Tugalgatai coal exploration licenses located in Mongolia from Tethys Mining.

As per the agreement, Prophecy will pay $10m upfront and an 8.5% royalty on future coal sales from both the Chandgana and Tugalgatai licenses.

San Gold Corp has acquired a 100% stake in three mineral properties located in Ontario, Canada, from Opawica Explorations through the disbursement of its 9.9 million shares.

The properties include the Atikwa Lake gold property, the Whitesides-Carscallen property and the Golden property located in the West Timmins gold camp.

Stelmine Canada has entered into a letter of intent for acquiring a 100% interest in 84 mining claims located in the Matapedia Valley in Quebec, Canada, for an undisclosed sum.

The completion of the deal is subject to the prior and regulatory approvals.

Liberty Gold has acquired a 60% interest in McCord Creek Property gold project in central Alaska's Tolovana Mining District.

The gold project includes 14 state mining claims located 70 miles northwest of Fairbanks in the Tintina Gold Belt, which has produced nearly 30 million ounces of gold to date and has experienced accelerated gold exploration, development, and mining activity.