Junior roundup: Altiplano, AQM, Sierra Metals

Edmonton-based Altiplano Minerals arranged a non-brokered private placement of units to raise up to Cdn$.2.5mn (US$1.90mn), the proceeds of which will be used for general working capital requirements, the company said in a statement.

Altiplano signed an agreement earlier this year to explore copper-gold projects in Chile with Comet Exploration.

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Vancouver's AQM Copper completed a previously announced plan of arrangement with Teck Resources under which Teck has acquired all the issued and outstanding shares of AQM, according to a press release.

AQM owns the Zafranal copper project in Peru.

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Toronto-based Sierra Metals' subsidiary Cautivo Metals filed a preliminary prospectus with regulatory authorities in Canada related to the proposed spin-off of Cautivo as a standalone public company and to capitalize Cautivo to enable it to pursue its business plan.

On completion of the spin-off, Cautivo's main asset will be its indirect interest in the Las Lomas project in Peru, consisting of approximately 32,000ha of greenfield exploration properties, Sierra said in a statement.