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Friday, 13th February 2009 (1755 views)

Nadir Energy and Mining has reported that it has acquired a controlling interest in Grand Pacaraima Gold.

Under the terms of the deal, Nadir has purchased all the issued and outstanding shares of Grand Pacaraima Gold.

Abdoumalik Abdoulladjanov, chairman and president of Nadir Energy and Mining, commented: "We are excited to add Grand Pacaraima Gold's valuable assets to Nadir Energy and Mining's growing asset base."

The exchange has been approved by members of the Castora family from Venezuela as well as other investors and Nadir Energy and Mining plans to develop the Grand Pacaraima Gold assets into "a cash flow".

With interests in four gold mines in Venezuela - Cerro Trompa, San Miguel, Mosquito and Zapata - Grand Pacaraima Gold has recoverable gold reserves of 3.6 million ounces and indicated resources of five million ounces.

Nadir Energy and Mining was formerly known as Amerossi Energy and has a range of natural resources properties in Canada and Russia.

 

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