Junior roundup: Precipitate, Oro Verde, Coro

Vancouver's Precipitate Gold received approval to close a 10mn-unit private placement for gross proceeds of Cdn$800,000 (US$598,352), according to a statement.

As previously stated, the proceeds will be used to advance multiple new target areas at the Juan de Herrera project in the Dominican Republic.

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Australia's Oro Verde Limited has entered into a farm-in agreement with Newcrest Limited subsidiary Newcrest International to explore for large high-grade epithermal gold deposits at the Topacio project in Nicaragua, according to a securities filing.

Newcrest will fund an initial minimum commitment of US$500,000 within the first year, and once that has been satisfied it can choose to continue to farm-in by funding an additional US$2.2mn by August 2017.

If the additional commitment is met and Newcrest chooses to continue, it will be obliged to fund the US$1.5mn option exercise payment to the vendor.

At this point, with expenditures totaling approximately US$4.4mn, Newcrest will have earned a 51% share in Topacio, and a JV will be created whereby Newcrest may choose to earn an additional 24% by spending US$3.5mn over the next three years.

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Chile-focused Coro Mining's local subsidiary, SCM Berta, completed the remediation and refurbishment of its Nora SX-EW plant, with key management positions having been filled and plant commissioning nearing completion.

SCM Berta anticipates that production of copper cathode will start before year-end once the plant suspension order has been lifted, Coro said in a press release.

Coro also announced the closing of a second US$1.4mn tranche of a convertible debenture with Greenstone Resources, to be used to complete the commissioning and start-up of the plant.