AquaGold Resources (ASE) says it will concentrate on bringing the Glen Morrison limestone deposit near Sydney, N.S., into production after a reverse takeover of the company by Municipal Capital.
Municipal Capital has been engaged in mining and production of aggregates for over 40 years.
Kelly Rock, a subsidiary of Municipal, was recently awarded a 5-year contract to supply sulphur-absorbent limestone to the Nova Scotia Power Corp.’s Point Aconi Plant. AquaGold received environmental approval for the Glen Morrison project near Sydney, N.S., earlier this month.
The Point Aconi plant will use the “circulating fluidized bed” technology, which requires large amounts of limestone to minimize sulphur dioxide emission from the plant.
AquaGold, which previously focused on gold exploration on the east coast, expects to begin production at Glen Morrison in September, 1992. It will launch an aggressive marketing program within the next few months.
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