Viceroy in consolidation talks

Viceroy Resource (VOY-T) has entered into talks aimed at the acquisition of Quest Investment (Q -TSX), Arapaho Capital (AHO-V), Avatar Petroleum (AVA-V) and Valdez Gold (VAZ-V).

Viceroy says that under the plan of arrangement governing the acquisitions, some of the target companies’ mineral assets may face “reorganization.”

Quest Investment is a merchant bank, which provides bridge loans to publicly listed companies. Avatar is in the oil and gas exploration and production business. Valdez is focused on precious and base metals with projects in Chihuahua, Mexico.

Earlier in November, Viceroy grabbed the remaining 40% interest in certain mineral properties in the Gualcamayo project from AngloGold (AU-N) for US$1 million.

The project is situated in Argentina’s Guandacol district in northern San Juan Province and southern La Rioja Province.

A Viceroy subsidiary already held about 250 sq. of the land package; the new deal adds about 10 sq. km that were held by an AngloGold subsidiary.

Viceroy shares were trading 2 higher at 33 in late-afternoon trade in Toronto on Nov. 29.

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