A private Montreal venture-capital company, Polcap Investments, has signed agreements with zinc producer ZGH Boleslaw Mines of Poland to act as financial, managerial and technical adviser.
In announcing the agreements, Polcap said it has granted St. Genevieve Resources (TSE) an option to acquire all of the former’s rights under the agreements for $600,000. The option, subject to regulatory approval, must be exercised by May 27.
Chairman of Polcap is Pierre Gauthier, who occupies the same position with St. Genevieve.
The Boleslaw reserves are listed at 200 million tons grading 3.8% zinc and 2% lead. A protocol agreement has been signed, Polcap said, to reprocess 35 million tons of Boleslaw tailings accumulated during 37 years of mining. An 8-year project is envisaged.
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