Recently entering into a joint venture agreement for the exploration and development of gold property in Oregon was Carlin Gold, which gained a penny to 35 cents on 22,000 shares for the week ended May 7.
Carlin and its Buck project partner, Redfern Resources, struck a deal with Teck Corp. after receiving joint venture proposals from the Vancouver-based company and other majors. Teck may initially earn a 60% interest in the property, plus an additional 15% interest by funding all exploration and development costs through to production startup.
The amalgamation of Jerome Gold Mines, International Platinum Mining and Pacific Metals has been completed, the companies reported. Jerome traded 385,000 shares during the week, moving up a penny to 15 cents. The amalgamated company should in the near future begin trading under the name of Pacific Metals.
North American Gold announced the formation of a wholly owned subsidiary, North American Environmental Corp., which will pursue the environmental applications of the tar sand processing technology that has been developed for application in the Asphalt Ridge tar sands project near Vernal, Utah. Trading 583,300 shares, North American jumped $1 to $2.25. The company is earning an interest in the Utah project.
Written confirmation has been received from the government of Aruba in the Caribbean, Monte Carlo Gold reported, giving the company the right to continue exploring for gold on the island and also to start up a 200-ton-per-day heap leach mill. Monte Carlo climbed 4 cents to 32 cents on a volume of 18,400 shares.
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