A Canadian subsidiary of Homestake Mining (NYSE) recently acquired 2.03 million shares of Prime Resources Group (VSE), thereby increasing its total holdings to about 54% of Prime’s outstanding shares.
Homestake acquired the shares from Placer Dome (TSE) by way of a private agreement to increase its ownership in Prime, which owns a 50% interest in the Eskay Creek gold deposit north of Stewart, B.C.
The major said it has no “present intention” of acquiring additional Prime shares.
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