Since the departure of former chairman Walter Berukoff, affiliated companies
Northern Orion has formed a committee of independent directors charged with advancing the company’s copper projects in Latin America: the 50%-held Mantua copper deposit in Cuba, and the 30%-held Agua Rica and 85%-held San Jorge projects, both of which are in Argentina.
In April of this year, following settlement of a labour dispute, Miramar resumed production at its Con gold mine near Yellowknife, N.W.T. However, the high-cost operation is not currently profitable and the company is now engaged in a review, which could include a search for new projects. Miramar also owns 54.8% of Orion.
In other news, Miramar has filed a lawsuit against American Eagle Resources, a company 64%-owned by Berukoff, seeking repayment of a $3.8-million advance made to Berukoff’s company while they were jointly operating the Golden Eagle mine in Nevada.
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