Friday, 3rd December 2004 (2455 views)

Three junior mining firms looking to join forces and become an intermediate producer have all agreed to combine to create 'New Bonanza'.

Vancouver-based juniors American Bonanza Gold Mining (BZ) and International Taurus Resources (ITS) formed the agreement and are now acquiring interests in a third firm, Montreal's Fairstar Exploration (FFR).

It is hoped the deal will result in finance and resource advantages for the firms, which at present are not available to them as junior miners, according to Mineweb.

Fairstar Chairman Larry Nachshen believes the combination will lead to "a very substantial resource" base and a "very exciting combination".

The new combined business will see 63.6 per cent held by former Bonanza shareholders, 8.8 per cent by Fairstar shareholders and 27.6 per cent by previous Taurus shareholders.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.