Southwestern splits shares

Vancouver — Shareholders of Southwestern Resources (SWG-T) have approved a 2-for-1 share split.

The share price has risen substantially over the past 18 months, mainly as a result of the discovery of large zones of high-grade gold at the Boka project in China’s Yunnan province. From the $2 level in late 2002, shares rose to a high of $43 in early 2004 before settling around $32 at presstime.

Southwestern is earning 90% interest in the Boka project.

The Vancouver-based company is also exploring the Liam gold-silver project in Peru in a joint venture with Newmont Mining (NEM-N).

In addition, Southwestern holds equity interests in Superior Diamonds (SUP-V), at 15.2%, Aurora Platinum (ARP-V), at 16.3%, and Maxy Gold (MXD-V), at 11.4%. The company has about $50 million in cash.