Queries Whatever happened to Jimberlana?

For the last two years I have been reading that Jimberlana Minerals owns 51% of Pamour Inc. and now in your July 6/87 edition I read that the new owners are Giant Resources, also Australian. Since I have acquired a considerable interest of Jimberlana shares, I would like you to answer for me a few questions: Did Jimberlana sell out? Was Jimberlana taken over? and what is the company’s Australian address? W.B., Locust Valley, N.Y.

In these times of corporate mergers and takeovers, you might suspect that Jimberlana Minerals NL had become part of another organization, and in this case you would be correct.

In February, 1986, Jimberlana Minerals, through its wholly-owned Canadian subsidiary, Jimberlana Holdings, bought 37.4% (and controlling interest) of Pamour Inc. The Australian company then increased its holdings in Pamour to 51%.

Enter on the scene Ariadne Australia, a diversified Australian conglomerate, which gained control of Jimberlana Minerals in December, 1986, and passed that control on to its newly created natural resources arm, Giant Resources.

By acquiring control of Jimberlana (Giant, which started with an almost 51% interest in Jimberlana, is currently pursuing 100% ownership), Giant Resources came to hold 51% of Pamour. You may write Jimberlana care of its adminstrative office: 16th Floor, 856 Collins St., Melbourne, Victoria 8000, Australia.

Some additional information about Pamour, which has been reorganized, may be of interest. The old mining firm is now the “senior” company of The Pamour Group, and has three “divisions” under it: Giant Yellowknife Mines, which controls all of the company’s underground and open pit mining operations, in both the Timmins area and the Northwest Territories; Pamorex Minerals, the company’s exploration arm; and erg Resources, involved in the recovery of precious metals from low grade ore sources or residues.