Last week, the Canadian market saw numerous merger and acquisition (M&A) deals struck, spearheaded by a major portfolio acquisition by Blue Moon Metals (TSX-V:MOON).
As reported by Mining.com.au, Blue Moon completed the acquisition of 33 tungsten and antimony projects as a play to significantly expand its critical minerals footprint in western US.
Blue Moon will pay US$20.5 million ($29.07 million) to acquire 100% ownership over the 33 projects from a private owner. The total consideration includes US$5 million in cash and 2.8 million shares, valued at US$5.55 each for US$15.5 million.
With each project located on public land in Colorado, Idaho, Arizona, and Nevada, the newly acquired portfolio complements the company’s existing US holdings — including the Springer tungsten complex in Nevada and the Apex germanium-gallium-copper mine in Utah.
Blue Moon Metals is a critical minerals developer advancing five brownfield polymetallic projects in the US.
However, this major deal wasn’t the only Canadian acquisition news to come out of last week, with Arya Resources (TSX-V:RBZ) early exercising its option agreement to acquire 100% interest in the Wedge Lake Gold Project in Saskatchewan’s La Ronge gold belt.
Arya completed the remaining cash payment of C$30,000 ($30,514) and issued 500,000 shares to North-Sask Ventures.
Shares issued in connection with the early exercise of the option agreement are subject to a statutory hold period of four months and one day from the date of issuance.
North-Sask will retain a 2.5% net smelter returns (NSR) royalty, which Arya has the right to buy back 1% of for C$1 million at any time before the achievement of certain milestones specified in the agreement. If Arya exercises this right, the remaining NSR royalty will be reduced to 1.5%.
Arya Resources is a Canadian explorer focused on the acquisition, exploration, and development of precious and critical metal projects in Saskatchewan. The company is advancing its flagship Wedge Lake Gold Project and its Dunlop Nickel-Copper-Cobalt Project, both located in mining-friendly jurisdictions.
On the other end of the scale, Trinity One Metals (TSX-V:TOM) has entered a definitive option agreement to acquire 100% interest in the historical Nueva Chanarcillo silver mine in northern Chile.
The company will pay a total consideration of US$10 million to complete the acquisition, split across five milestones.
CEO Thomas Wood says the acquisition of this mine “gives Trinity One exposure to the area surrounding Juan Godoy’s original 1832 discovery”.
“The combination of exceptional reported historical silver grades, previous high-grade drilling, established mining concessions, and very limited modern systematic exploration creates an exciting opportunity for Trinity One,” Wood says.
“We intend to move quickly, beginning with geophysics, surface sampling, and geological modelling ahead of our planned initial diamond drilling program.”
The company intends to immediately begin a modern exploration program at Nueva Chanarcillo.
The next phase includes high-resolution airborne magnetics, historical mine waste and tailings sampling, 3D geological mapping and drill targeting, and an initial diamond drilling campaign.
Trinity One is a precious and base metal explorer focused on building a portfolio of high-growth projects with exposure to some of the world’s most in-demand metals.
Write to Maddison Elliott at Mining.com.au
Images: Blue Moon Metals
