Teck, Cominco Ltd. close Aur purchase

The initial 2.04 million common shares have now been taken down and the balance of the shares to be acquired by Teck and Cominco will be issued within the next six months.

Before the initial shares were acquired, Cominco and Teck completed the purchase of 600,000 shares from a number of Aur shareholders.

When the transactions are completed, the Vancouver companies will collectively hold an 18.9% stake in Aur which is using the proceeds to finance surface exploration at its 50%-owned Louvem base metal project near Val d’Or, Que. Societe Miniere Louvem (TSE) says it holds the remaining interest in the disputed property.

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