Dickenson Mines (TSE) has completed the acquisition of Cambior Inc.’s (TSE) 34% interest in the Arthur W. White mine located near Red Lake, Ont., for $52 million, subject to adjustments for working capital. Dickenson now owns 100% of the Arthur W. White mine.
At the same time, Dickenson acquired from Cambior 1,708,339 common shares of Goldquest Exploration Inc. (TSE) for $940,000 (55 cents per share). Dickenson now owns 59.8% of the common shares of Goldquest. Dickenson acquired the Goldquest shares as an investment and has no present intention to further increase its ownership, control or direction of Goldquest, President John O. Kachmar, says.
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