Trillion completes deal with CMCWA

Ottawa-based Trillion Resources (TLQ-T) has bought a 51% intrest in privately owned Consolidated Mining Corporation of West Africa (CMCWA).

The remainder of CMCWA is owned by its Malian managing director (20%) and by Consolidated Mining Corporation of South Africa (CMCSA) (29%).

As part of the deal, Trillion has issued 1 million shares to CMCSA. Trillion still owns 141 million shares of CMCSA. Valued at $31.4 million, these trade on the Johannesburg Stock Exchange.

In November 1996, the Malian courts decided not hear a case which sought to prevent Trillion’s acquisition of CMCWA, and this decision paved the way for final regulatory approval of the purchase.

CMCWA’s interests in Mali include the Segala gold prospect, in which Oliver Gold (OGO-V) is earning a half interest by completing a feasibility study.