Shareholders of CSA Management (TSE), Goldcorp (TSE) and Dickenson Mines (TSE) have formally agreed to form a new company, to be known as Goldcorp (see T.N.M., Feb. 14/94).
The plan was approved by 99.9% of the CSA Class A shareholders who voted, 99.9% of CSA Class B shareholders, 99.3% of Goldcorp Class A shareholders and 94.7% of Dickenson Class A shareholders.
Approval has also been granted by the Ontario Court (General Division). “The purpose of the amalgamation is to create a single, larger, independently operated and better capitalized gold mining corporation,” says CSA President Robert McEwen. “The new company will have a larger market capitalization, which should result in increased research coverage and institutional interest and thus greater liquidity for shareholders.”
Goldcorp will own the Red Lake gold mine in northwestern Ontario, as well as the Havelock limestone operation near Moncton, N.B., and Saskatchewan Minerals, which produces sodium sulphate, salt cake and detergent products. It will also have a 50.3% interest in Wharf Resources (TSE).
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