MacDonald ponders future of Gallen

The company took on a new life last year (N.M., Sept 5/88) when shareholders elected new board members and regained MacDonald’s 49% interest in Les Mines Gallen, a private company which owns a zinc-silver-gold mine in the Rouyn-Noranda, Que., area. The company’s new transfer agent is Central Guaranty Trustco.

MacDonald’s partner in Gallen, where operations were suspended towards the end of 1985, is Noranda Inc. (TSE). President Milton Snow, in a letter to shareholders, says Noranda may be willing, subject to certain conditions, to negotiate the return of its interest in Gallen to MacDonald.

“We have been in contact with several companies who have expressed interest in this situation as well as the future exploration possibilities of the property,” he writes.

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