Chaparral Gold has agreed to sell 100% of its issued and outstanding common shares to Goldrock Mines for C$0.61 ($0.54) a share, or at a total value of around C$73.4m ($65.5m) in cash.
Goldrock will use a loan from Waterton Precious Metals Fund II Cayman to fund the acquisition.
After the closure of the deal, Goldrock will transfer to Waterton the Goldfield property, a 49% stake in the Converse property, all of Chaparral’s cash and cash equivalents, and the Rio Blanco property’s receivables.
Following the transfer, Goldrock will be left with a 51% stake in the Converse property and the remaining assets and liabilities of Chaparral.
CoAL of Africa (CoAL) has signed a biodiversity offset agreement worth ZAR55m ($4.95m) with the Department of Environmental Affairs and the South African National Parks (SANParks) for its Vele Colliery.
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Under the deal, the team will promote the integrated management of land, water and natural capital for conservation and sustainable development of the Mapungubwe Cultural Landscape (MCL) World Heritage Site, where the Department of Mineral Resources had previously allowed Vele Colliery’s owner Limpopo Coal to extract coal.
The mining permit was widely opposed by conservationists, including the United Nations Educational, Scientific and Cultural Organisation (Unesco).
Uragold Bay Resources has signed a definitive agreement with Fancamp Exploration to acquire 32 claims around its Beauce Placer Gold project in the Beauce region of southern Quebec.
Uragold had owned five claims between the Rang Chaussegros and the Rang Gustave, which covered 26% of the paleo-placer gold channel. Upon the closure of the transaction, Uragold will own the entire 6.5km paleo-placer gold channel.
Aurvista Gold has signed a letter of collaboration (LoC) with the Abitibiwinni First Nation for the Douay gold project in Quebec. Both entities have agreed to work together for the development of the Douay project.
Located on the Casa Berardi Fault, the Douay project comprises a NI 43-101 compliant mineral resource of 114,652,000 million tonnes grading at 0.75g a tonne of gold (2.8 million ounces of gold) in the inferred category and 2,689,000t at 2.76g a tonne gold (238,433oz of gold) in the measured and indicated category.
The entire Douay gold project has 221 wholly owned claims totalling approximately 11,430ha.
Pacific Coal Resources, through its subsidiary Norcarbon, has signed a joint operation agreement with Sloane Mining Services Sucursal Colombia for the production, purchase and sale of coal at its Cerro Largo mine.
The deal is valid until 5 June 2021 and will allow Sloane to explore around 4.2 million tonnes of coal.
As part of the agreement, Sloane will manage the mine’s thermal coal production, commercialisation and associated costs, and in return it will receive a percentage of the coal production. The remaining will be taken by Norcarbon, which will sell the coal to Sloane at a set price.
Sloane is expecting to commence operations at the Cerro Largo mine in October this year.
Image: CoAL of Africa has signed a biodiversity offset agreement with the Department of Environmental Affairs and the South African National Parks for its Vele Colliery. Photo: courtesy of Department of Environmental Affairs, South Africa.