GMP Securities, an investment dealer based in the US, has signed an agreement with Canadian gold mining company Kinross Gold Corporation to acquire 5.5 million common shares held by the latter company in Lundin Gold.

The shares will be acquired through private placement at a price of C$5.6 ($4.6) per share on or before 5 October 2016, subject to customary closing conditions.

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GMP Securities will hold 4.6% stake in Lundin Gold following the transaction.

"Canadian mining company, Focus Graphite, is set to raise up to C$3m ($2.27m) in a non-brokered placement."

Canadian mining company, Focus Graphite, is set to raise up to C$3m ($2.27m) in a non-brokered placement.

The transaction involves the placement of 30 million units at a price of C$0.10 ($0.07) per unit, which comprises one share and one purchase warrant, giving the holder the right to buy a share at a price of C$0.12 ($0.09) for a period of 48 months following the date of closure.

The company will utilise the proceeds for general working capital purpose.

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Canyon Copper, a mining company based in Canada, has reached an agreement with another Canadian company, ProAm Exploration Corporation, to buy a 71% stake in the latter’s Sams Lake Property in Ontario.

The purchase consideration for the deal includes C$200,000 ($150,000) of cash payments and the issuing of six million shares, priced at C$0.035 ($0.026) each, for gross proceeds of C$210,000 ($150,000) at different stages to ProAm.

The buyer will also pay a 2.5% net smelter return (NSR) to the seller upon beginning commercial production at the property, but will have a right to purchase 1% of the agreed 2.5% NSR for C$1.5m ($1.13m).

Canyon is funding the transaction partly through a debt from Metamin Enterprises and partly through a private placement of shares.

White Rock Minerals, a mineral exploration company based in Autralia, has announced an initial public offering (IPO) to raise A$3.31m ($2.53m).

Sanlam Private Wealth, the underwriter for the offering, will be paid 6% of the raised funds as fee. It will also be issued a total of six million options, half of which exercisable at a price of A$0.03 ($0.02) each and valid for two years from the date of issue, and half exercisable at A$0.06 ($0.05) each and valid for three years from the issue date.

White Rock Minerals will invest the funds to advance its Mt Carrington Project to approval stage, perform exploration at its Red Mountain Project, and for general working capital purposes.