Trading heavily for the past two weeks, Holcorp Gold Mines has agreed to pay US$3.75 million for TSC Enterprises, a subsidiary of copper producer Arimetco. TSC’s sole asset is the Emerald Isle Copper mine in northern Arizona with reserves of 6.4 million tons grading 0.42% copper. To raise the required financing, Holcorp intends to complete a private placement of three million special warrants at 75 cents each. Trading 137,890 shares, Holcorp closed unchanged at 30 cents for the week ended April 23.
After investigating Kenora Prospectors and Miners’ Shoal Lake property in northwestern Ontario for more than five years, Bond Gold has dropped its option on the gold bet. The property, now 100% owned by Kenora, hosts preliminary reserves of 1.3 million tons grading 0.28 oz. gold per ton. Kenora last traded at 10 cents.
Through a fully subscribed rights offering at 65 cents per share, Windy Mountain Explorations has raised $466,215 to pay off its debts. Windy, which continues to build reserves on its MacLeod Lake property north of Chibougamau, Que., was 75 cents bid, $1.50 ask for the week.
Lachib Development has optioned its 14 claims near Cobalt, Ont., for $300,000. Trading 34,000, Lachib closed unchanged at 75 cents.
Bregman Securities has purchased shares representing less than 20% in each of the following companies: Brightwest Resource Explorations, Allied Northern Resources, Grand Empire Explorations, Blue Regal Resources, Great Fortress Resources, Royal Crest Resources, Primrose Gold and Ross Island Resources.
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