Quebec-based mining company Radisson Mining Resources (ME) reported the election of a new president and a settlement with its creditors.
The new president is Jean-Marie Dupont. Appointed vice-president of explora- tion is Jacques Noel. The company’s main asset remains its Duquesne gold mine project near Rouyn-Noranda, Que., where a bulk-sampling program was completed earlier this year.
Dupont said Radisson’s creditors have elected to receive 50 cents on each dollar due, with the balance to be paid in common shares (to a maximum of 1,144,458 shares) worth 40 cents each. He also said the company has reimbursed a gold loan.
The bulk-sampling program yielded 26,629 oz. gold which produced gross revenue of about $11.6 million.
Be the first to comment on "Radisson names new president"