With final approvals in hand,
The deal calls for MSV’s shares to be converted on the basis of one Campbell share for every 4.1 MSV shares, and GeoNova’s shares to be converted on the basis of one Campbell share for every 10 GeoNova shares. The surviving entity, Campbell Resources, will then have 30.4 million shares outstanding.
Once the transaction is complete, Campbell will move its registered office to Montreal from Toronto. MSV and GeoNova will become wholly owned subsidiaries.
Campbell intends to focus its efforts on Quebec’s Chibougamau region, where it hopes to start up the Copper Rand copper-gold project and restart operations at the Joe Mann gold-copper mine.
Deepening of shaft 4 at Copper Rand will begin this August. In the meantime, discussions are under way to secure financing needed to restart Joe Mann. Exploration and development work could begin this fall, with operations starting early next year.
If these objectives are achieved, Campbell expects to produce some 67,600 oz. gold and 4 million lbs. copper next year. These levels could be increased to 72,000 oz. gold and 23.2 million lbs. copper by adding the Corner Bay copper project, also in Chibougamau.
Earlier this year, GeoNova acquired the Bachelor Lake gold-mining complex and related assets in northwestern Quebec. The mine contains underground resources estimated at 523,075 tons averaging 0.23 oz. gold per ton, plus a dormant 500-ton-per-day mill.
I am owner of 500 shares of MSV Resources Inc. I have been reading that there was a merger between Msv and Campbell and
GeoNova Explorations . Please tell me what to do about my shares.
Janine Albert 1283 Route 148 Papineauville, Que. J0V 1R0 My previous address was P.O. Box 667 Hawkesbury, Ont.
If I dont hear from you I will make other research about this.
In the meantime I thank You for your help.