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Western Uranium & Vanadium to Acquire Uranium Claims
Globenewswire· 2025-10-06 13:00
Core Viewpoint - Western Uranium & Vanadium Corp. has entered into a definitive agreement to acquire unpatented mineral lode claims, securing a 50% ownership interest in a uranium/vanadium resource property located on approximately 240 acres in Montrose County, Colorado, for US$250,000, with the transaction expected to close in October 2025 after due diligence [1][2]. Group 1: Acquisition Details - The acquisition is strategically valuable due to its proximity, less than 10 miles, to the proposed Mustang Mineral Processing Plant site, which enhances logistical efficiency [2]. - The property has shown historic drill grades that exceed the production averages of the Long Park Mining District, indicating potential for higher margin resources [2]. - The company has staked an additional 500 acres surrounding the property to expand its mineral resource exploration potential [2]. Group 2: Historical Context - The property was originally acquired in 1996 by two private partners, each holding a 50% interest, leveraging their expertise in geology and surveying [3]. - Following the passing of one partner in 2013, the remaining interest was acquired by the company's CEO, George Glasier, consolidating ownership [3]. - The remaining original partner recently offered his interest to Mr. Glasier, who presented the opportunity to the company, leading to the current acquisition [4]. Group 3: Technical and Regulatory Aspects - An independent ore reserve calculation report, known as the Thamm Report, was prepared in 1980 based on data from 175 drill holes but is not current or public due to outdated calculation methods [5]. - The company is developing high-grade uranium and vanadium production at its Sunday Mine Complex, with additional conventional projects in Colorado and Utah [6]. - The Mustang Mineral Processing Plant is being developed to optimize economics through kinetic separation for mined material recovery [6].
Wealth Minerals Enters into Letter Agreement to Acquire the Andacollo Oro Gold Project
Newsfile· 2025-09-25 11:30
Core Viewpoint - Wealth Minerals Ltd. has entered into a binding letter agreement to acquire a 100% royalty-free interest in the Andacollo Oro Gold Project located in Chile, which is seen as a strategic opportunity for the company amidst growing investor interest in gold due to global economic concerns [1][3]. Acquisition Details - The acquisition will be executed through a share purchase and sale transaction, with a purchase price of 12.5 million common shares of Wealth, subject to adjustments for dilution prior to closing [10]. - Wealth has made a cash payment of US$350,000 to the target company for a 30-day exclusivity period to conduct due diligence [10]. - The total deferred purchase payments to be assumed by Wealth amount to US$30 million, with specific payment milestones over 48 months [11]. Project Overview - The Andacollo Oro Gold Project has historically produced 1.12 million ounces of gold from 1995 to 2018, with a peak annual production of 135,000 ounces in 1999 [4][5]. - The project has a historical estimate of 2.02 million ounces of gold in the Measured and Indicated categories and 5.06 million ounces in the Inferred category [4][7]. - The project is located in Region IV, Coquimbo, Chile, and is adjacent to Teck Resource's Carmen de Andacollo mine [4][9]. Private Placement - Wealth is initiating a non-brokered private placement of at least 41,666,666 units at a price of $0.12 per unit, aiming for minimum gross proceeds of $5 million [14]. - Each unit consists of one common share and one-half of a common share purchase warrant, with an exercise price of $0.18 per warrant share for a period of 24 months [14]. - Proceeds from the offering will be allocated to finance the acquisition and development costs of the AOG Project, as well as general working capital [15]. Share Consolidation - Wealth plans to undergo a consolidation of its common shares on a basis of one post-consolidation share for up to seven pre-consolidation shares, aiming to attract capital for project advancement [18][19]. - Following the consolidation, approximately 51,766,170 common shares are expected to be outstanding [18]. Management and Strategic Direction - Chad Williams has been appointed as a strategic advisor to the company, bringing extensive experience in mining and investment banking [20]. - The company aims to diversify its asset base to include precious metal projects while continuing to advance its lithium project portfolio [21][22].
TSX-V: TT to Acquire Two High-Grade Gold Deposits in Canada along the Ontario/Manitoba Border
Thenewswire· 2025-09-24 16:00
  September 24, 2025 – TheNewswire - Vancouver, BC - Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V: TT) (FSE: O4N) is pleased to announce it has signed a binding letter of intent (the “Agreement”) with McFarlane Lake Mining Limited (CSE: MLM) to acquire 100% of the High Lake and West Hawk Lake mineral properties dated September 23, 2025These highly prospective properties are strategically located, with the High Lake property situated just east of the Ontario-Manitoba border and the West Hawk ...
Prospect Ridge secures 100% interest in Camelot copper-gold project from Orogen
Yahoo Finance· 2025-09-11 14:27
Group 1 - Prospect Ridge Resources has acquired a 100% interest in the Camelot copper-gold project in Canada from Orogen Royalties, with the transaction approved by the Canadian Securities Exchange on 9 September [1] - The Camelot project covers an area of 2,600 hectares in British Columbia's Quesnel Belt, known for significant copper and gold porphyry systems, and previous exploration has identified a substantial copper anomaly in the soil [1][4] - The initial payment for the project was C$25,000 (approximately $18,043), which included 243,180 shares at a deemed price of C$0.102804 per share, with a hold period until 10 January 2026 [2] Group 2 - Prospect Ridge has the option to make an additional payment of C$175,000 in cash or shares within six months of the approval date, and will issue shares under a restricted resale period expiring four months plus one day after issuance [2] - Orogen will receive a 1% net smelter return (NSR) royalty, which Prospect Ridge can reduce by 0.5% with a one-time payment of C$1 million, along with an annual advance royalty payment of C$10,000 and a one-time payment of C$30,000 upon completion of a NI-43-101 mineral resource [3] - The acquisition enhances Prospect Ridge's presence in a promising copper-gold region and complements its portfolio, with plans for a 2,000m drill program targeting a well-defined geophysical anomaly [4]