NEWS ROUNDUP –Canmine buys associated company

Canmine Resources (CMR-T) has acquired Red Engine Resources, a private company partnered with Canmine at several properties in Ontario and Manitoba.

The merger between the companies, which share a president and two directors, was designed to “advance a number of projects,” including the Werner Lake cobalt project in western Ontario. Canmine was earning from Red Engine a 50% interest in that property by spending $2.2 million on exploration over two years.

The merged company will also explore the Binco polymetallic property in the Thompson nickel belt of Manitoba.