The merger, given shareholder approval earlier this month, completes the restructuring of Cliff Resources into a more diversified company with gold production from Nevada and asbestos production from Newfoundland.
Cliff is currently constructing a $16-million asbestos tailings retreatment plant at Baie Verte, Nfld., with the capacity to produce 50,000 tons of chrysotile fibre pellets per year. Drilling is also currently under way on the company’s Gull Pond and Flatwater Pond properties located on the Baie Verte peninsula. These base and precious metal properties had belonged to Canaustra prior to the merger with Cliff.
Evaluation of the company’s Gold Canyon, Nev., property will be undertaken this year says James Bates, vice-president of Cliff.
]]>
Be the first to comment on "Cliff Resources completes merger"