THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has struck a strategic consolidation deal US Masters Holdings (ASX: USH) in regards to the Lake Johnston lithium pegmatite field in Western Australia.

Under the deal LIT gains a prime position in new pegmatite discoveries with the company to hold lithium rights over three licences that dominate coverage of the Lake Johnston lithium pegmatite field

US masters will retain the gold and nickel rights within the licence areas.

USH granted exploration licences E63/1722 and E63/1723 surround LIT’s exploration licence application E63/1777.

In May 2016, Poseidon Nickel (ASX: POS) announced that sampling of lithium pegmatites very close to the boundary of E63/1722 had returned very high lithium assay results.

The pegmatites sampled by POS have been interpreted to be extending to the northeast, into E63/1722.

“Lake Johnston is a significant addition to LIT’s Yilgarn asset base, and the deal with USH puts us in the box seat in that area,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“While previous exploration ignored the lithium potential of the pegmatites, recent exploration has demonstrated conclusively the prospectivity of the area.

“It’s a great deal for LIT and for USH!”

Email: info@lithium-au.com

Website: www.lithium-au.com

THE BOURSE WHISPERER: Gryphon Minerals (ASX: GRY) has entered into a Scheme Implementation Agreement (SIA) with Teranga Gold Corporation (TSX:TGZ) (ASX:TGZ), under which Teranga is set to acquire all of the ordinary shares of Gryphon.

Under the terms of the SIA, each Gryphon share will be exchanged for 0.169 common shares of Teranga or 0.169 Teranga shares in the form of ASX-listed CHESS Depositary Interests (CDIs).

Based on the closing price of Teranga CDIs on Australian Securities Exchange on 17 June 2016, the transaction values each Gryphon share at 20.6 cents.

Teranga is the owner/operator of the Sabodala gold mine, the only gold mine and mill in Senegal, West Africa.

Sabodala has been in operation since 2009.

As at 31 December 2015 Teranga’s total proven and probable open pit reserves were 2.6 million ounces of gold, including measured and indicated open pit resources of 4.4 million ounces of gold and inferred open pit mineral resources of 0.94 million ounces of gold.

The Sabodala gold mine has a 13.5 year mine life based on current production and proven and probable reserves.

“We are very pleased to be joining forces with Teranga Gold Corporation as we look to create a pre-eminent West African mid-tier gold producer,” Gryphon Minerals managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“This transaction gives an immediate uplift for Gryphon shareholders and provides significant exposure to Teranga’s Sabodala gold mine in Senegal.

“The combined company can leverage off its strong balance sheet and mining cash flows to help bring the 3.6 million ounce Banfora gold project into development and production in the near term.

“The combination of the companies provides a great opportunity to leverage off the skill sets of both groups with Teranga’s mining and development team and Gryphon’s expertise and social licence to operate in Burkina Faso as well as its excellent track record on exploration and discovery.”

For its part in the deal, Teranga said it considers the acquisition of Gryphon to be an ideal opportunity to add a second high-quality gold asset to the company’s asset base allowing it to create a geographically diversified company with an enhanced gold production profile as it moves forwards to reach its vision of becoming a mid-tier West African gold producer.

“Banfora provides excellent optionality with attractive economics over a variety of development scenarios along a highly prospective land package which we intend to purposefully explore,” Teranga Gold Corporation president and chief executive officer Richard Young said.

“Banfora’s similar mining characteristics to Sabodala allow us to leverage our experienced mine construction and operating teams with Gryphon’s mine development and exploration teams to successfully develop and operate the new mine.

“Adding Banfora to our low-cost Sabodala operation should position Teranga to produce around 300,000 ounces per year with all-in sustaining cash costs below industry average.”

Email: admin@gryphonminerals.com.au

Website: www.gryphonminerals.com.au

THE BOURSE WHISPERER: Plymouth Minerals (ASX: PLH) announced an agreement with Valoriza Mineria SLU, a wholly-owned subsidiary of one of Spain’s largest companies Saycr Vallehormoso, SA, to evaluate and potentially develop the advanced San Jose lithium-tin-tungsten deposit in Spain.

San Jose is located approximately 200 kilometres south of Plymouth’s 80 per cent-owned Morille tin-tungsten project in the Extremadura region of Spain.

The Earn-in and Joint Venture agreement follows discussions from early 2015 between Plymouth and Valoriza Mineria, the latter having selected Plymouth as a partner to evaluate the extensive exploration data and historic feasibility study on San Jose, and conduct further work to evaluate the potential of restarting mining operations focused on lithium with a tin by-product.

Key terms of the Earn-in and Joint Venture Agreement include:

Plymouth can earn 50 per cent through funding €1.5 million to complete technical work within 12 months from granting of regulatory permits (Stage 1);

Plymouth can elect to earn a further 25 per cent (for a total 75%) through completing a Feasibility Study and expending a minimum of €2.5 million within two years of completing Stage 1, with the ability to extend for a further year to complete the study if required;

Plymouth and Valoriza Mineria can then continue on a pro-rata funded JV to develop the project; and

The exploration and development program will be administered jointly, with Valoriza Mineria recognised as a Preferred Contractor for the provision of relevant operational services.

“Over a short period, our company has made great strides into furthering our potash assets on the Atlantic seaboard of Gabon,” Plymouth Minerals managing director Dr Eric Lilford said in the company’s announcement to the Australian Securities Exchange.

“In parallel with this continued potash drive, an opportune event has placed our Spanish ambitions into the spotlight and the Board has reflected on this opportunity as being very attractive to the company and its shareholders.

“This agreement highlights the inherent value in the company’s existing Spanish project and validates the expertise of our Board and management team that are highly experienced in the acquisition, evaluation and development of a mining operation outside of Australia, recognised through its work on the Hemerdon tungsten-tine mine in the UK.

“I am extremely pleased with our team’s efforts in the continued development of Plymouth and believe that we have the capabilities to successfully add shareholder value through efficient and timely work on both the potash and lithium-tin-tungsten assets.”

Website: www.plymouthminerals.com

THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) has welcomed a new cornerstone investor to the company’s register.

Malaysian publicly-listed company, MAA Group Berhad will subscribe to $1 million worth of Altech shares.

According to Altech, MAAG is a Malaysian publicly-listed insurance, investment, credit and finance group with total assets of RM1.45 billion and annual turnover of RM484 million.

Under the terms of the placement approximately 11.6 million shares will be issued to MAAG at a price of 8.6 cents per share, which was price for a placement Altech completed in March 2016.

Altech explained the issuing of the shares will be subject to the approval of shareholders as Tunku Ya’acob bin Tunku Tan Sri Abdullah (a non-executive director of Altech) is the executive chairman and a majority shareholder of MAAG.

Upon approval of the share issue, MAAG will hold approximately 6 per cent of the issued shares of Altech.

Melewar International Investment Company Limited, a company also controlled by Tunku Ya’acob bin Tunku Tan Sri Abdullah, will hold approximately 9 per cent of the company.

“We are very excited to have a cornerstone investor with the pedigree of MAAG join our register,” Altech managing director Iggy Tan said in the company’s announcement to the Australian Securities Exchange.

“Altech continues to be most appreciative of the support for the company and its HPA project by Tunku Ya’acob bin Tunku Tan Sri Abdullah and his associated companies.”

Email: info@altechchemicals.com

Website: www.altechchemicals.com