Arizona Sonoran Copper announces C$19.9m private placement with Hudbay

Arizona Sonoran Copper Company has announced a strategic private placement valued at C$19.9m ($13.83m) with Hudbay Minerals. Under this agreement, Hudbay will subscribe for 11,852,064 common shares of Arizona Sonoran at C$1.68 per share. Hudbay currently holds 2,870,800 shares, representing a 2.12% interest in Arizona Sonoran prior to the private placement. Post-closing of the placement,…

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Mako Mining intends to buy EG Acquisition

Gold mining, development and exploration company Mako Mining has signed a nonbinding letter of intent to acquire a 100% stake in EG Acquisition (EGA). EGA, a company under the control of Mako’s main shareholder Wexford Capital, recently acquired certain assets, including all outstanding common shares of Golden Vertex Corp. (GVC) from Elevation Gold Mining. The…

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