Junior financing, M&A roundup: Candente, Baja, Canasil, Lara-Kiwanda-Nebo

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Wednesday, December 4, 2013

Vancouverite Candente Gold (TSX: CDG) received an expression of interest from Mexican public trust FIFOMI to provide financing of up to US$25mn for exploration and test work at the recently acquired tailings deposits at the El Oro gold project, Mexico.

FIFOMI, which aims to support the mining sector with competitive finance, also expressed interest in financing and providing technical assistance with exploration for high-grade mineralization in new veins or extensions of known veins at El Oro, in which Candente has a 70% interest.

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To see the full release click here.

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Compatriot Baja Mining (TSX: BAJ, OTCQB: BAJFF) announced that investment company Mount Kellett Master Fund II A LP has sold all its 67.4mn common shares in the company.

Baja has a 10% interest in the Boleo copper-cobalt-zinc project in Mexico's Baja California Sur.

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Vancouver-based Canasil Resources (TSX-V: CLZ), which has silver-gold-copper-lead-zinc projects in Mexico, announced a non-brokered private placement of up to 5mn units at an exercise price of Cdn$0.09 for total proceeds of up to Cdn$450,000 (US$420,790), which will be used for further exploration and for working capital.

To see the full release click here.

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Canada's Lara Exploration (TSX-V: LRA) and privately held Kiwanda Mines have entered into a letter of intent under which investment firm Nebo Capital will acquire the companies' interests in certain coal properties and assets in Colombia.

To see the full release click here.