Junior corporate roundup: Inca One, Angel Gold, Starcore, Magellan

Vancouver-based Inca One Gold entered into an additional multi-delivery letter of agreement to purchase 400t/m of ore with an average grade of 30g/t gold from an undisclosed mine in Peru to feed its Chala One milling plant.

The company also announced the closing of a US$500,000 debt financing agreement with SG Strategy Consult to provide capital for the purchase of additional mill feed materials for the plant, according to a press release.

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Vancouver's Angel Gold has made a second payment of US$50,000 to privately held Colombian mining company Mineros as part of its option agreement to acquire the El Porvenir gold-silver property in Colombia, Angel said in a statement.

In order to earn a 100% interest in the property the company needs to pay a total of Cdn$2mn (US$1.6mn) in cash, and spend an aggregate of Cdn$5.2mn over five years.

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Starcore International Mines has closed the transaction to acquire all of the shares of Creston Moly from Deloitte Restructuring at a price of Cdn$2mn, it said in a press release.

Through its subsidiaries, Creston Moly has a 100% interest in molybdenum-copper projects, including the El Crestón project in Mexico's Sonora state and two in Canada.

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Brazil-focused Magellan Minerals said the ongoing feasibility study for its Coringa gold project in Pará state is 75% complete, and a draft is scheduled for the end of March, while the final report is expected for mid-April, according to a statement.