Deals this week: Newbridge Capital, Portage Minerals and more…..

15 March 2012 (Last Updated March 15th, 2012 18:30)

Newbridge Capital has received approval to acquire a 100% interest in Safin Element for total consideration of $70.2m in cash.

Newbridge Capital has received approval to acquire a 100% interest in Safin Element for total consideration of $70.2m in cash.

The aquisition includes all of Safin's 100% beneficial interest in the Lomonosovskoye Limited Liability Partnership, which holds unrestricted exploration and production rights to the Lomonosovskoye iron ore deposit located in Kostanay Oblast, Kazakhstan.

Legend Mining has finalised the sale agreement of Mt Gibson Gold Project in Australia to Extension Hill, a subsidiary of Asia Iron Australia.

The company received a $6.8m and $1.4m term deposit which secured the environmental bonds for the project.

Portage Minerals has signed an agreement with Wolfden Resources to sell its 30% stake in the Clarence Stream Gold Project in New Brunswick, Canada, for a total consideration of $3.1m.

Under the terms of the agreement, Wolfden has paid $75,000 as a non-refundable deposit and will pay $2.5m in cash and $500,000 in the equity of Wolfden upon the close of the transaction.

View Resources has completed the acquisition of a 100% interest of Oshpur located in southern Kyrgyzstan.

The company said the deal is being funded through staged payments of $2.6m cash and the issue of 100 million shares and 500,000 performance shares.

Reliant Gold Corp has entered into an option agreement to acquire up to a 70% interest in the Probe Mine's 100% owned Borden Lake South Property.

The property is consists of 20 mining claims located 10km east of the town of Chapleau in Northeastern Ontario, Canada and two kilometres south of Probe's Borden Lake gold discovery.