International Larder Minerals (TSE), which has been moving into the field of industrial minerals (talc and marble) in recent years, has advanced $200,000 to Bakertalc (ME), a struggling Quebec talc producer. An association between the two companies could prove beneficial to both, Larder President J.C. Bonhomme told the annual meeting. Bakertalc has an established marketing and sales network, but it has been having some difficulty in turning out the right product for a changing market from its mine at Highwater, Que. Larder possesses extensive high-quality reserves at its Harvey Hill mine where it has all the mining plant and equipment for a talc operation but it is not in production.
“We are looking for a 40,000- 50,000-ton market and develop our own mine to turn out a premium product,” Bonhomme said.
The company has as yet been unsuccessful in its efforts to attract the major financing that would be required to advance the planned world-class agglomerated dimension building stone facility of its wholly owned subsidiary, Granmarble Inc. This could run to $30 million.
The company hopes to reach an agreement shortly, which could result in royalty income, with Kerr Addison Mines relating to its original gold property at Larder Lake, the meeting was told.
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