American Bonanza gets nod for Taurus merger

Vancouver — Shareholders of American Bonanza Gold Mining (BZA-V), International Taurus Resources (ITS-V) and Fairstar Explorations (FFR-T) have approved a proposed merger and property consolidation.

American Bonanza and International Taurus will now merge to form the new American Bonanza Gold, which will consolidate project ownership of the Fenelon project by acquiring Fairstar Explorations’ interest.

The new American Bonanza Gold will issue 6.5 million shares to Fairstar in return for its 38% interest in the high-grade Fenelon gold project plus its other properties in western Quebec. Fairstar plans to redistribute the shares to its shareholders.

In addition to the Fenelon gold project, the new company will hold the past-producing Copperstone gold project in Arizona, where a production decision is anticipated this year, and the Taurus gold project in northwestern British Columbia.