In a statement on Tuesday, the Canadian group said that the combination with the FTSE 250-listed firm would “strongly benefit both sets of shareholders due to the compelling long-term value creation opportunity”.
Drilling at a new breccia zone, where rocks are composed of broken fragments and had been missed by previous explorers, found six metres at 4.1 grammes of gold per tonne of rock (g/t Au) some 27 metres below the surface.
The payment is for 1,793 dry metric tonnes of copper, gold and silver concentrate mined in November from the firm’s Minto project in Canada.
Drilling at KSZ has identified what seem to be multiple magma conduits, which would have supplied molten lava to the surface 180mln years ago.
Alien Metals Ltd (LON:UFO) said it was buying a formerly producing Western Australia silver mine in a low-cost, all-share deal. The group is acquiring the Elizabeth Hill Silver Project from Karratha Metals Group.
The latest highlight show 107 metres grading 2.2 grams per tonne gold, including 21 metres at 10 grams per tonne gold.
It has completed six holes for a total of 1,656 metres, which successfully proved the existence of the of D’Kar and Ngwako Pan formations that are prospective for both copper and silver.
European Metals Holdings Ltd (LON:EMH) confirmed an agreement that sees state-owned CEZ receive the option to invest €34.06mln and take a 51% stake in the company’s Czech subsidiary Geomet.
Premier African Minerals Limited (LON:PREM) took a 10% stake in a manganese mine MN Holdings after converting a loan into shares.
MN owns the Otjozondu mine in Namibia, which is currently exporting 5,000 tonnes lump ore per month at better than 35% manganese with production set to increase, Premier said in a statement.
A placing will raise £831,000 as a part of a refinancing of the business with C4 Energy, a new company part-controlled by Parsons also granted an option to acquire Regency's debt.
Danakali Ltd (ASX:DNK) (LON:DNK) is on track for first production from Colluli Sulphate of Potash Project in Eritrea during 2022 after Africa Finance Corporation (AFC) agreed to a US$50 million strategic equity investment.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) secured A$45.5 million in additional funding to support rapid development of the Lake Way Sulphate of Potash (SOP) Project in Western Australia.
Bezant Resources (LON:BZT) raised £350,000 through a conditional placing, to fund more evaluation work at its Buffalo copper project in Zambia.
Base Resources Limited (LON:BSE, ASX:BSE) confirmed the details of its recently updated ore reserves estimate for the Ranobe deposit, part of the Toliara project in Madagascar. The project now has 586mln tonnes (Mt) of ore with an average heavy mineral grade of 6.5%, giving some 38mln tonnes of in-situ minerals.
Unaudited net profit before tax in November was A$2.44mln (£1.29mln) on revenues of A$5.64mln.