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April 11, 2013

Deals this week: Thor Mining, Southern Cross Goldfields, Ghana Gold and more

Thor Mining has announced that it has finalised the acquisition of a 26% stake in the Spring Hill gold project in Australia's Northern Territory, a decision which will increase the company’s ownership to 51%.

By admin-demo

Deals

Thor Mining has announced that it has finalised the acquisition of a 26% stake in the Spring Hill gold project in Australia’s Northern Territory, a decision which will increase the company’s ownership to 51%.

The raise in ownership comes after the transfer of the interest from Western Desert Resources, Thor’s co- venture partner in the project, was approved by the Northern Territory Department of Resources.

Gold miner Southern Cross Goldfields and Polymetals Mining have announced a merger to create a diversified Australian gold company.

Under the merger deal, Southern Cross offered 11 of its own shares for every one Polymetals share held, with Southern Cross shareholders together holding a 47% interest in the merged company and Polymetals shareholders collectively holding the remaining interest.

Golden Glory Resources, Goff Corporation’s wholly owned subsidiary, has signed a Letter of Intent to acquire a third large gold project in Colombia.

The Santa Rosa Gold Project is located in the gold mining district of the South Bolivar Department, Colombia.

Together with its other projects, La Frontera in the Caldas region and the Gavia Gold Project at Marmato, the company now has agreements and options on 12,464ha of highly prospective gold properties.

Ghana Gold has signed a Letter of Intent to acquire significant mineral exploration, production and commercialisation rights in the Central African Republic.

The rights to the mining concessions will be granted to enable Ghana Gold to operate under the permits, agreements and approvals of the World Sports Alliance Intergovernmental Organization (WSA-IGO).

Fox Resources has signed a definitive farm-in and joint venture agreement with Pilbara Minerals in relation to the development of ten exploration tenements in the West Pilbara region of Western Australia.

The two companies are currently working with Newexco to finalise an initial exploration programme to execute exploration activities within the tenements, which are considered to be prospective for base metals, platinum group elements and/or gold mineralisation.


Image: Several deals and acquistions related to gold mines this week. Photo: cooldesign/FreeDigitalPhotos.net.

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