Campbell reviews funding position

Now that Northgate Exploration (TSE) is selling its controlling interest in Campbell Resources (TSE), the latter is reviewing financing alternatives for its Canadian operations and Mexican exploration projects.

At the Joe Mann gold-copper mine, near Chibougamau, Que., Campbell is developing reserves at lower levels and increasing production to 75,000 oz. gold per year. Current output is 62,000 oz.

Northgate will sell, subject to regulatory approval, its 34.5% equity stake in Campbell for $29.4 million.