NEWS ROUNDUP — Zeitler moves in as Minnova chairman

Following the completion of the purchase of a control position in Minnova (TSE) by Metall Mining (TSE), Klaus Zeitler, president of Metall, was appointed chairman of Minnova.

Metall purchased a 50.4% interest in Minnova from Kerr Addison Mines (TSE). The purchase price was for a minimum of $18.10 per share and a maximum of $18.85 per share, depending on Minnova’s 1992 net income, for a total price not to exceed $136.6 million.

Continuing as Minnova’s president is David Watkins. Zeitler and Watkins are joined on Minnova’s board of directors by Gerard Coulombe, Stefan Garber, David Lewis, Sydney Robinson and Wolf Seidler.