Key Developments: Almaden Minerals Ltd (AAU)
1.48USD
17 May 2013
$-0.07 (-4.52%)
$1.55
$1.53
$1.53
$1.48
115,011
170,161
$3.30
$1.45
Latest Key Developments (Source: Significant Developments)
Tarsis Resources Ltd Acquires Mexico And Nevada Gold Properties From Almaden Minerals Ltd
Tarsis Resources Ltd announced that it has signed a non-binding Letter of Intent (LOI) with Almaden Minerals Ltd (Almaden) to acquire a 100% interest in four gold/silver properties located in Nayarit and Jalisco, Mexico and two gold properties in Nevada, USA. Work is underway to consummate the acquisition through a formal agreement. Under the terms of the LOI, Tarsis will acquire a 100% interest in the following gold projects: Mexico: Yago, Gallo de Oro, Mezquites and San Pedro Nevada: BP, BJS. Tarsis will pay Almaden 4 million common shares and grant a 2% net smelter returns (NSR) royalty on any production from the projects. Full Article
4G Resources Ltd. And Almaden Minerals Ltd. Cancel Joint Venture Agreement
4G Resources Ltd. (G4G) announced that, pursuant to the announcement of the joint venture agreement with Almaden Minerals Ltd. ("Almaden") on June 21, 2011, whereby G4G could acquire a 70% interest in Almaden's 100% owned Yago gold-silver project located in Nayarit State, Mexico, Almaden and G4G have mutually agreed to cancel this agreement. Full Article
Westhaven Ventures Inc Options Nevada Copper-Gold Porphyry Property From Almaden Minerals Ltd.
Westhaven Ventures Inc announced that it has entered into an option agreement with Almaden Minerals Ltd., whereby Westhaven can earn 60% in Almaden's Willow Copper-Gold Porphyry property located in Nevada, USA. Located in Douglas and Lyon Counties, the Willow property is approximately 20 km northeast of Yerington, Nevada and is road accessible. The Property covers an area of hydrothermal alteration interpreted to represent the lithocap to a large preserved porphyry copper-gold system.Westhaven can earn a 60% interest in the Willow property by paying $300,000 in cash (to be paid within 5 business days of TSX-V acceptance of the Agreement), incurring $10 million in expenditures and issuing 4,000,000 common shares to Almaden over 4 years as follows; $1,000,000 in exploration expenditures in the first year of the Agreement (firm commitment); $2,000,000 in exploration expenditures in Year 2 (Optional); $3,000,000 in exploration expenditures in Year 3 (Optional); and $4,000,000 in exploration expenditures in Year 4 (Optional). Share payment Schedule; 500,000 issued within 5 business days of TSX-V acceptance of the Agreement; 500,000 on or before 1st anniversary of TSX-V acceptance of the Agreement (Optional); 500,000 on or before second anniversary of TSX-V acceptance of the Agreement (Optional); 500,000 on or before 3rdanniversary of TSX-V acceptance of the Agreement (Optional); 2,000,000 shares will be issued upon the completion of a NI 43-101 Compliant Resource Estimate. Full Article
Goldgroup Mining Inc. Completes Acquisition Of The Remaining 30% Interest In The Caballo Blanco Project Held By Almaden Minerals Ltd.
Goldgroup Mining Inc. (Goldgroup) announced that, further to its news release of September 26, 2011, Goldgroup has completed the acquisition of the remaining 30% interest in the Caballo Blanco project held by Almaden Minerals Ltd. (Almaden). Goldgroup now owns 100% of the Caballo Blanco project. The aggregate consideration paid by Goldgroup to Almaden in connection with the transaction consisted of: USD2,500,000 in cash; 7,000,000 Goldgroup common shares at closing; the right to receive up to an additional 7,000,000 Goldgroup common shares upon the achievement of certain project milestones (1,000,000 common shares upon commencement of commercial production, 2,000,000 common shares upon measured and indicated resources, including cumulative production, reaching 2,000,000 ounces of gold, 2,000,000 common shares upon measured, indicated and inferred resources, including cumulative production, reaching 5,000,000 ounces of gold and 2,000,000 common shares upon measured, indicated and inferred resources, including cumulative production, reaching 10,000,000 ounces of gold); a 1.5% net smelter return royalty; and the transfer of Goldgroup's 40% interest in the El Cobre property. Full Article
Goldgroup Mining Inc. Completes Earn-In Of Caballo Blanco Interest
Goldgroup Mining Inc. announced that Almaden Minerals Ltd. has confirmed that Goldgroup's expenditures in 2010 and 2011 at the Caballo Blanco project satisfied its obligations to earn its 70% undivided interest in the project within the time periods required under the related option agreement. Full Article
Almaden Minerals Ltd. Completes Sale Of Elk Gold Project
Almaden Minerals Ltd. announced that it has completed the sale to Gold Mountain Mining Corporation of a 100% interest in the Elk Gold Project located near Merritt, British Columbia (Elk Gold Project). Almaden sold the Elk Gold Project in exchange for the issuance of 37,000,000 common shares of Gold Mountain and a 2% net smelter returns royalty pursuant to an Asset Purchase Agreement dated February 15, 2011, as subsequently amended between Gold Mountain and Almaden. The Acquisition Shares will be subject to resale restrictions and escrow requirements under applicable securities laws and policies of the Exchange. In addition, 2,000,000 of the Acquisition Shares will be subject to additional escrow requirements. Full Article
G4G Resources Ltd. Announces Option Agreement With Almaden Minerals Ltd
G4G Resources Ltd. announced that it has entered into an option agreement with Almaden Minerals Ltd. (Almaden) pursuant to which G4G has the option to acquire a 60% legal and beneficial interest in a property. The property includes 28 mining claims located on the Yago property in the state of Nayarit, Mexico on approximately 22,898.2 hectares. To earn its interest in the property, G4G is required to pay CAD50,000 and issue 500,000 common shares of G4G to Almaden within five business days of acceptance of this transaction by the TSX Venture Exchange. Following G4G earning its 60% interest in the property, G4G may elect to earn a further 10% interest in the property by completing a bankable feasibility study within seven years of the date of the option agreement. Upon G4G earning its 60% interest in the property, G4G and Almaden shall form a joint venture with G4G continuing to act as the operator. Should G4G earn 60% but not complete a bankable feasibility study within this timeframe, G4G would be required to pay Almaden 2,000,000 common shares of G4G and a 60/40 joint venture would then be entered into. Full Article
Almaden Minerals Ltd. Agrees to Sell A Portion Of Its Beanstalk Capital Inc. Shareholdings
Almaden Minerals Ltd. announced that it has reached an agreement in principle with several proposed purchasers to assign and sell up to an aggregate of 8.25 million of the 37 million common shares of Beanstalk Capital Inc. (Beanstalk) to be received by the Company upon appropriate regulatory approval for the sale of the Elk gold deposit as outlined in the Company's News Release of February 16, 2011. The sale and assignment will be at $0.355 per share. This transaction shows the ability of the Company to monetise assets created through its exploration and development business model. The sale will add to the Company's cash balance while at the same time reducing the Company's holdings in Beanstalk to a level at which it would no longer be necessary to consolidate the financial reporting of Beanstalk with that of the Company. Full Article
Almaden Minerals Ltd. Announces Board Changes
Almaden Minerals Ltd. announced that Mark T. Brown, who has served as Chief Financial Officer since November, 2007, will be joining the Board of Directors of Almaden effective immediately, and announced that Mr. Korm Trieu has been appointed as the Company's new Chief Financial Officer. Full Article
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