Latest Deals
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Pilbara Minerals to acquire Latin Resources
Australian lithium mining company Pilbara Minerals announced that it plans to acquire Latin Resources for approximately A$560m ($377m) as it looks to diversify its operations. Pilbara Minerals has secured Latin Resources' Salinas lithium project in Minas Gerais, Brazil, which has the potential to emerge as one of the world's top ten hard rock lithium-producing operations outside of Africa. Latin Resources’ shareholders will receive 0.07 new shares of Pilbara Minerals for each Latin Resources share they own after the swap, and will possess around 6.4% of Pilbara Minerals’ shares.
Teako to acquire majority stake in Løkken project in Norway
Teako Minerals has signed a definitive agreement to acquire a 90% stake in the Løkken copper-zinc-cobalt project in Trøndelag, Norway, from Capella Minerals. The project will be integrated with Teako's adjacent Lomunda claims. Teako is obligated to issue 2.5 million common shares to Capella by 30 August 2024 and pay C$350,000 in cash. It will also carry out a drill programme on the Åmot target within 12 months, subject to permitting, and develop two more drill-ready targets within 24 months. Teako will bear all exploration costs.
GFG enters definitive deal to sell Wyoming gold project
GFG Resources has reached a definitive deal to divest its wholly owned Rattlesnake Hills gold project in central Wyoming, US, to Patriot Gold Vault for an aggregate consideration of nearly C$3.3m ($2.4m). The move follows a binding letter of intent signed in May 2024. Patriot made an initial payment of C$250,000 upon signing the letter. A subsequent payment of C$250,000 will follow upon the execution of the definitive agreement, with an additional C$1.2m due at the transaction’s close.
Ganfeng Lithium concludes Pastos Grandes deal in Argentina
Ganfeng Lithium, through a subsidiary, has completed its stake acquisition in Proyecto Pastos Grandes (PGCo), a Lithium Argentina unit that holds the Pastos Grandes lithium brine development project. The deal resulted in Ganfeng Lithium investing C$70m to acquire a 14.9% stake in PGCo. Lithium Argentina acquired the Pastos Grandes project in Salta, Argentina in early 2022 through the purchase of Millennial Lithium.
