Ventures also holds 1.2 million common shares of the company or 12.8% of Eastmaque’s issued and outstanding shares. Ventures says the shares were acquired for investment purposes.
However, past experience suggests that Ventures will increase its interest in the company in order to affect control of the board and the company’s direction. In 1987, Ventures, via Brohm Resources, acquired the control block in MFC Resource Finance Corp. from Kerr Addison Mines. Original management was ousted in favor of Ventures Trident nominees.
Eastmaque is a gold producer with operations at Kirkland Lake, Ont., and California. At Kirkland Lake, Eastmaque is making money producing gold from mine tailings. The Cargo Muchacho mine is an open pit, heap leach operation.
]]>
Be the first to comment on "Ventures buying Eastmaque shares"