Metals Update 31/12/2020

Osisko Metals closes royalty financing, placement

Osisko Metals Inc. has closed its previously announced royalty financing pursuant to which Osisko Gold Royalties Ltd. was granted a further 0.5-per-cent net smelter returns royalty on the Pine Point project for cash consideration of $6.5-million. After giving effect to the NSR amendment, Osisko Royalties now holds a combined 2-per-cent NSR royalty on the Pine Point project (which is not subject to buyback rights in favour of Osisko Metals).

Read More

Superior Gold files NI 43-101 report for Plutonic

Superior Gold Inc. has filed an independent technical report in accordance with Canadian Securities Administrators’ National Instrument 43-101 to support the preliminary economic assessment (PEA) of a pushback of the previously producing Main pit, as well as an updated mineral resource estimate at its 100-per-cent-owned Plutonic gold operations located in Western Australia. (Dollar amounts are in Australian dollars unless otherwise stated.)

Read More

Osisko Metals sale of Pine Point NSR royalty

The TSX Venture Exchange has accepted for filing the second amendment to a net smelter return (NSR) royalty agreement between Pine Point Mining Ltd., Osisko Gold Royalties Ltd. and Osisko Metals Inc., dated Dec. 15, 2020, whereby Osisko Metals is granting a further 0.5-per-cent NSR royalty on the Pine Point project to Osisko Gold for a cash consideration of $6.5-million.

Eloro files final prospectus for $5.5M bought deal

In connection with Eloro Resources Ltd.’s previously announced bought deal financing (see Eloro press releases dated Dec. 16, 2020, and Dec. 9, 2020), it has filed a final short form prospectus with the applicable securities regulators in each of the provinces of Canada, except Quebec. Under the terms of the financing, Haywood Securities Inc., as lead underwriter, and Echelon Wealth Partners Inc. agreed to purchase, on a bought deal basis, 3,548,400 units at a price of $1.55 per unit for gross proceeds to the company of $5,500,020.

Read More

Eastern Platinum shareholder challenges tailings deal

by Mike Caswell

Eastern Platinum Ltd. is facing a case in the Supreme Court of British Columbia from a shareholder who complains that a deal for a chrome processing plant could be financially disastrous. The company’s board is pursuing the $40-million (U.S.) transaction without a feasibility study or a technical report, the shareholder says. The actions of the board amount to what the shareholder sees as negligence or breach of duty.

Read More

Eastern Platinum receives petition filed by holder Ren

Eastern Platinum Ltd. has received a petition filed with the Supreme Court of British Columbia by Xiaoling Ren, a shareholder of the company, seeking leave from the court to commence a derivative action on behalf of the company against certain of its current and former directors. Ms. Ren is represented by the same law firm which filed a similar petition in November, 2018 (see news release of Nov. 9, 2018), that was dismissed by the Supreme Court of British Columbia (see news release of Aug. 29, 2019) in a decision affirmed by the Court of Appeal for British Columbia (see news release of Nov. 17, 2020).

Read More

Orea receives court decision for Montagne renewal

Orea Mining Corp. is applauding the decision from a French court ordering the renewal of the Montagne d’Or mining concessions within six months. Montagne d’Or, located in French Guiana, France, is a permitting-stage open pit gold mining project that hosts Proven Mineral Reserves of 8.25 Mt at 1.99 g/t (530,000 oz) and Probable Mineral Reserves of 45.87 Mt at 1.50 g/t (2.2 Moz)*.

Read More

Generation Mining closes $3.3-million private placement

Generation Mining Ltd. has closed its previously announced non-brokered private placement through the issuance of 4,292,367 common shares of the company issued on a flow-through basis at a price of 77 cents per flow-through share for gross proceeds of $3,305,122.59. Eric Sprott purchased 2,000,000 FT Shares of the Offering.

Read More

Azarga Uranium closes $6-million bought deal

Azarga Uranium Corp. has closed its previously announced oversubscribed bought deal prospectus offering of units of the company. Haywood Securities Inc. and Eight Capital (collectively, the “Underwriters”) acted as co-lead underwriters of the Offering. Pursuant to the Offering, the Company issued a total of 30,000,000 units of the Company (the “Units”), at a price of C$0.20 per Unit for gross proceeds to the Company of C$6,000,000.

Read More

American Manganese reviews 2020 achievements

American Manganese Inc. has provided 2020 company and industry highlights in lithium-ion battery recycling, manganese processing, mining exploration and financing that have put American Manganese in a strategic position for 2021.

Read More

Leave a Reply