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November 8, 2012

Deals this week: Roman Abramovich, Argentina Mining, Globex Mining, Auric Mining and more

Russian billionaire Roman Abramovich is expected to invest in Australia-based Linc Energy, a company that produces diesel and jet fuel coal gas released from underground coal.

By admin-demo

Russian billionaire Roman Abramovich is expected to invest in Australia-based Linc Energy, a company that produces diesel and jet fuel coal gas released from underground coal.

The investment is expected to be made in Linc’s Clean Energy UCG arm, an underground coal gasification and gas-to-liquids business, though the financials details of the deal are yet unknown.

Argentina Mining has granted an option to acquire a 60% interest in its Cerro Blanco Project to Canadian New Destiny Mining for $2m.

New Destiny will also offer $300,000 in stages and later issue a 12.5% stake in the company after regulatory approval.

Globex Mining Enterprises of Canada has acquired a 100% interest in the former Joutel Copper Mine situated in the Joutel Township of north-western Quebec.

The mine produced 1.32 million tonnes grading 2.16% copper and 378,000 tons grading 8.88% zinc at a 365m depth.

Green Swan Capital has purchased a 100% stake in four mineral claims in the Hess Township in northern Ontario for 200,000 shares at a price of $0.10 a share.

The company plans to begin immediate exploration on the claims, known as the Geneva Lake Mining Property.

Auric Mining has agreed to acquire the 2,240-acre Horseshoe Mines Property in Inyo County, California, which includes 108 ore claims.

The property has previously produced 440,000 tons of ore hosting gold, silver, lead and zinc.

Hong Kong-based Minero Mining International Minero has acquired a 9.6% stake in Firestone Ventures through a private placement of 3.5 million common shares at a cost of 0.05 a share.

Minero has an additional option for 3.5 million share purchase warrants, amounting to a total of 14.67% in Firestone, if exercised.

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