Member
Posts:
Joined: Jul 2007
|
OR.CN Osisko Gold Royalties subscribed for and received from Barkerville Gold Mines 20.6M common shares at a price of C$0.34 pursuant to previously announced bought deal private placement Immediately following the closing of the Private Placement, Osisko owns, beneficial ownership of, or control and direction over 162.9M common shares, representing approximately 32.30% of the issued and outstanding common shares; and (ii) 15.7M Warrants. Assuming the exercise of the Warrants, Osisko would own 178.5M common shares, representing approximately 34.34% of the common shares that would then be issued and outstanding.
|
Member
Posts:
Joined: Jul 2007
|
HGM.LN Highland Gold Mining receives permission from Russia's Federal Anti-Monopoly Service (FAS) to complete acquisition of Valunisty mine and related assets from Aristus Holdings Highland Gold Mining Limited announces that further to its announcements of 26-Apr-18 and 24-May-18, it has received permission from Russia's Federal Anti-Monopoly Service (FAS) to complete the acquisition of the Valunisty mine and related assets from Aristus Holdings Limited. All conditions required to be satisfied for the closing of the Acquisition have now been fulfilled and the parties today signed the Russian deed of sale for transfer of the assets. The company will now file for legal registration of ownership of the assets, to be followed by the issuance of 38.6M ordinary shares of £0.001 each to Aristus, and thereafter their admission to trading on AIM. A further announcement will be made once these steps have been completed. Aristus' shares are subject to a six-month lock-up agreement. The Acquisition covers three companies with assets in the Russian region of Chukotka, where Highland Gold already operates the Kekura and Klen development projects. The assets include the Valunisty gold mine and processing plant, with annual production of 31 koz (2017), as well as the Kanchalano-Amguemskaya Square licence, which covers territory surrounding Valunisty and hosts several satellite deposits, and the Kayenmivaam exploration licence. Valunisty and KAS hold total audited Proven and Probable Ore Reserves (JORC 2012) of 3.4 Mt at 5.1 g/t Au equivalent (4.6 g/t Au and 49.3 g/t Ag) (554 koz Au equivalent); and Indicated and Inferred Mineral Resources of 17.6 Mt at 3.0 g/t Au equivalent (2.4 g/t Au and 58.5 g/t Ag) (1.72 Moz Au equivalent), as at 1-Jan-18. The Consideration to be paid is $91M, including approximately $78.7M in shares based on the share price prior to announcement of the deal on 26-Apr-18, and the balance by the assumption of approximately $12.3M of net debt. The transaction was approved at an Extraordinary General Meeting of the company in May 2018
|