Plans by Consolidated Ramrod Gold (TSE) to acquire all issued and outstanding shares of San Andreas Resources (TSE) for Ramrod shares have been cancelled.
San Andreas President Peter Tsaparas provided few details about Ramrod’s decision not to proceed, saying simply: “They (Ramrod) wanted to change the deal at the last minute and that was unacceptable for us.”
San Andreas is developing the Prairie Creek mine project in the Northwest Territories. Work is focused on vein and stratiform zinc-lead-silver deposits which are adjacent to a 1,200-ton-per-day mill.
Ramrod is exploring several projects in Canada, the U.S. and Central America.
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