Morning Briefing: B2Gold to sell royalties to newly-named Versamet; Irving Resources investment from Newmont and Sumitomo
Welcome to Mining Stock Daily. I’m Kylie Williams, filling in for Trevor Hall
Today is Thursday, June 6th.
The Associated Press reports that Gold for August delivery rose $28.10 to $2,375.50 per ounce on Wednesday. Silver for July delivery rose 45 cents to $30.07 per ounce, and July copper rose 7 cents to $4.61 per pound. The GDX held at 34.79.
We’ll get to the news out of the miners and explorers in just a quick moment, but first a word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Fireweed Metals
Fireweed Metals is advancing 3 different projects within the Yukon and Northwest Territories, including the flagship Macmillan Pass Project, a large zinc-lead-silver deposit and the Mactung Project, one of the largest and highest-grade tungsten deposits in the world. Fireweed plans to advance these projects through exploration, resource definition, metallurgy, engineering, economic studies and collaboration with indigenous people on the path to production. For more information please visit fireweedmetals.com.
And here’s what you need to know this morning….
B2Gold announced that it has entered into a purchase and sale agreement to sell a portfolio of 10 precious and base metals royalties to Sandbox Royalties, a private, returns-focused metals royalty company. In connection with the Transaction, Sandbox has been renamed Versamet Royalties Corporation. Under the terms of the Agreement, Versamet will acquire ownership of the Royalties and as consideration will issue 153.2 million common shares to B2Gold at a price of C$0.80 per share, representing an equity ownership interest in Versamet of 33.0% valued at approximately $90 million US dollars. B2Gold trade (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) News Release
Irving Resources announced that the Company has finalized a non-binding term sheet with Newmont Overseas Exploration Limited, a wholly-owned subsidiary of Newmont Corporation, and Sumitomo Corporation for a proposed joint venture over the Yamagano and Noto properties in Japan. The Term Sheet provides the basis for a Definitive Agreement to be negotiated by the parties, which is expected to include an initial diamond drilling exploration program. The initial ownership interests in the joint venture company that will hold the Yamagano and Noto property interests will be 60% as to Newmont, 27.5% as to Irving, and 12.5% as to Sumitomo. Irving is the initial manager of the joint venture. Irving trade (CSE:IRV) (OTCQX:IRVRF) News Release
Kingfisher Metals announced that it has entered into a definitive agreement to acquire the LGM Project from Origen Resources. The 26,771 Ha LGM Project is located immediately south and contiguous with Kingfisher's HWY 37 Project, in Northwest British Columbia within the Golden Triangle. This is an expansion of the company’s contiguous holdings in the Golden Triangle from 362 km2 to 630 km2 including KSM-type targets in the west, alkalic Galore Creek-type targets in the central region (Grizzly and Lucifer) and unexplored Eskay Creek-type stratigraphy to the east. Kingfisher trade (TSXV:KFR) (FSE:970) (OTCQB:KGFMF) News Release
Vizsla Copper announced that due to significant investor demand, the Company has increased the maximum gross proceeds of its previously announced "best efforts" private placement to C$4,500,000 from the sale of any combination units of the Company at a price of C$0.11 per Unit and flow-through units at C$0.12 per FT Unit. Red Cloud Securities is acting as lead agent and sole bookrunner on behalf of a syndicate of agents. Vizsla Copper trade (TSXV: VCU) (OTCQB: VCUFF) News Release
Silver One Resources announced the discovery of additional copper and silver prospects with up to 1,240 g/t Ag and 7.79% Cu in selected samples. These samples were collected in the southern portion of the property where multiple copper and silver showings suggest potential for the discovery of porphyry related copper-silver mineralization. This part of the project is immediately northeast of the Freeport McMoRan Miami copper mine and the recently discovered Ocelot porphyry project being actively explored by BHP. Silver One trade (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) News Release
Kodiak Copper announced that it intends to increase the size of its previously announced on June 4 non-brokered private placement for aggregate gross proceeds of up to $6,649,878. The offering will consist of charity flow-through, common shares and flow-through shares and is expected to close on or about June 21, 2024. Kodiak trade (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1) News Release
And to finished, two short uranium updates…
CanAlaska Uranium report diamond drill results from its partner operated programs completed during the winter of 2024 on the Geikie and Moon Lake South Projects (Figure 1). Drill results from the Geikie Project confirm extensive hydrothermal alteration and structure associated with a large gravity anomaly in the Preston Creek area. CanAlaska trade (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) News Release
Standard Uranium announced that inaugural drilling activities are now complete at the Company’s 7,302-hectare Canary Project highlighting localized anomalous radioactivity and prospective rock types typical of basement-hosted uranium deposits. Canary is situated in the prolific eastern Athabasca Basin, northern Saskatchewan. Standard Uranium trade (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) News Release
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