Roddy settles debts issue

Under the settlement, subject to all required approvals, Callum will be issued 511,815 shares of Roddy at 65 each, that price being the Dec 29, closing on the TSE.

Repayment of the debts was provided for at the time of the refinancing of Roddy by Belmoral Mines (TSE) which was completed in May, 1988. Belmoral has an option to purchase up to a 51% interest in Roddy, which operates the Bighorn heap leach gold mine in Arizona.

]]>