Audrey Res. to seek $8-million financing

An $8-million financing will be sought by Audrey Resources for the company’s optioned Mobrun project. The cash will be used for continued exploration of the property up to June, 1987. By making the expenditures, Audrey will acquire a 70% interest in the project, located near Rouyn, Que. Corporation Falconbridge Copper will retain a 30% interest. Audrey now holds a 50% interest in the project.

Audrey will recover its investment if the property is placed into production. The property is currently the site of a bulk test from an open pit. The material is being milled at Falconbridge’s Norbec mill.