The miner announced the 100% acquisition of Pitt gold project from Brionor Resources and Duquesne from Clifton Star Resources on 16 May 2012 and 20 September 2012 respectively.
Xmet also initiated purchase of 75% interest in Duquesne-Ottoman from Globex Mining Enterprises on 3 March 2012.
Brionor, meanwhile, has also announced the approval from its shareholders to sell Pitt gold project to Xmet.
Commenting on the sale Brionor president and CEO Lew Lawrick said that the by selling the mining project, company plans to focus on its other business ventures.
The miner has claimed that the completion of the transaction provides it with gold resources totaling deduced volume of 1,233,000 ounces along with suggested resources of 355,000 ounces.
Besides customary approvals, the agreement is awaiting acceptance from Toronto stock exchange.
