Deals this week: Melkior Resources, Kent Exploration, Discovery Ventures and more

7 November 2013 (Last Updated November 7th, 2013 18:30)

Melkior Resources has entered into an option and joint-venture agreement with Beaufield Resources on its Launay gold project, located in Launay township, in the province of Québec.

Melkior Resources has entered into an option and joint venture agreement with Beaufield Resources on its Launay gold project, located in Launay, Québec.

As per the deal, Beaufield will have the option to earn an interest of up to 50% in the project by incurring exploration expenditures aggregating $1,250,000 over five years, with a minimum $250,000 of exploration expenditures in the first year.

Beaufield will earn a 10% interest for each $250,000 of exploration expenses.

Melkior said it will remain as the operator on the project until the first $250,000 of exploration expenditures is spent.

Melkior or Beaufield will thereafter be the operator until the end of the option period.

Drilling on the project is expected to commence later in November 2013.

Kent Exploration has signed a letter of agreement with American Mining to acquire a 80% interest in the Bayhorse silver mine in east-central Oregon in the US.

The Bayhorse property has three patented claims and ten lode claims totaling around 250 acres.

Kent Exploration said mining has been conducted intermittently at Bayhorse since the early 1920's and the mine last closed after the price of silver dropped to under US$6/oz in late 1984.

The Bayhorse mine has two existing accessible adits, the upper extending about 800ft westward into the hill and the lower extending about 500ft into the hill.

A middle level is reached only by raises from the lower level and winzes from the upper level while three areas have been stopped in the ground between the upper and middle level.

Kent Exploration has a 100%-interest in all its major projects, and is planning on building shareholder value by establishing cash flow from its Flagstaff Mountain, Washington, barite mine.

Discovery Ventures has agreed to acquire Max Mine and Mill From Roca Mines.

The Max mine includes an underground molybdenum mine, crushing, milling and concentrating facilities, tailings storage facilities, mineral claims, mining leases, licenses and other holdings located near Trout Lake in the Revelstoke mining division of the province of British Columbia.

Situated 135km from Discovery's Willa project, the facility is a formerly producing molybdenum mine that operated from 2007 until November 2011 when depressed metal prices led to its closure.

Roca has also granted an exclusive option to Discovery to acquire all of the issued and outstanding common shares of its subsidiary FortyTwo.

Apart from the Max Mine, FortyTwo also holds tax pools that have accumulated around $50m and the Max Project, which features 59 mineral claims totalling approximately 5,489ha and certain undersurface rights located in the Revelstoke mining division of the Province of British Columbia.

Haydale, the operating subsidiary of Innovative Carbon, has signed a distribution agreement with AMG Mining, a subsidiary of AMG Advanced Metallurgical Group.

Under the deal, AMG Mining will act as exclusive distributor in Germany for the Haydale branded HDPlas Graphene Nano Platelets (GNPs).

AMG Mining intends to use Haydale's plasma functionalisation technology to extend its product range and materials.

AMG said graphene is a form of carbon that exists as a sheet, one atom thick with its atoms arranged into a two-dimensional honeycomb structure.

The company claims that graphene is at least 100 times stronger than steel; conducts electricity better than copper and has been suggested as a possible replacement for silicon in electronics.

Amara Mining has entered into a legally binding, conditional share purchase agreement with Amlib Holdings to acquire $10m cash, a drilling operation and three Liberian exploration licence for an aggregate value of $11m.

Amlib is a privately held gold exploration company with RDV as majority shareholder.

Apart from the three exploration licences, Amara will benefit from lower costs for its ongoing exploration across the region by utilising the drilling assets of Amlib, together with the support of a new strategic shareholder in RDV.

Amara said it remains focused on delivering its targets for the second half of 2013 including the integration of the Kalsaka and Sega Gold Projects in Burkina Faso, the results of the optimisation work for the smaller plant and pit scenario for Baomahun and the completion of the mineral resource update for Yaoure.

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