Aquagold agrees to merger

Aquagold Resources (ASE) has agreed in principle to merge with Mosher Limestone Co., a Nova Scotia company already involved in the industrial minerals field. If the merger is completed in 10 weeks as expected, Aquagold can go ahead with development of the Glen Morrison limestone deposit near Sydney, N.S.

However, a final agreement is still subject to regulatory approval and to permission from the Nova Scotia Department of the Environment. The amalga-mation is in keeping with Aquagold’s bid to diversify and to establish itself as a leader in the production and marketing of limestone products. “At the same time, the company maintains its wider potential and is ready to take full advantage of future improvement in gold and base metal prices and the renewed activity which such a development will permit,” said President Fred Creaser.