The mineral assets of Asamera Inc. will be placed into a new wholly-owned subsidiary, the company reports. Called Asamera Minerals, the Canadian company is expected to offer up to 15% of its treasury-issued common shares to the public.
Interests in the new firm include Asamera’s 51% stake in the Cannon gold mine in Washington. The mine produced 116,514 oz of gold in 1986 and forecasts 140,000 oz in 1987. Asamera has numerous other exploration projects across Canada and the U.S.
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