Private concern buys Varna stake

Newfoundland Goldbar Resources, a private company, has purchased shares of Varna Gold (ASE), previously held by former president Gordon Barron.

Barron, who was slapped with a 7-year trading ban at the end of last year, held about 4.5 million Varna shares, or 20% of the company.

Goldbar is exploring the Glover Island gold property in western Newfoundland under an option agreement with Varna. A drilling program has been tentatively scheduled for late summer.