Mintek, Bishop to merge

Victor Jones, president of Mintek Resources and Corby Stanley, president of Bishop Resources Development have announced approval by their respective boards of directors to amalgamate, subject to shareholder and regulatory approval.

Bishop shareholders will receive one share of the merged company for each share currently held and Mintek shareholders will receive two shares for each three now held.

Both companies have exploration properties in British Columbia and Nevada and Bishop owns a 50% interest in the Duthie mine, a high grade silver mine located near Smithers, B.C., scheduled to commence production in February.

Bishop also holds a 100% interest in the Topley property, 25 miles north of Equity Silver’s mine. Topley is a potential high-grade gold-silver producer on which more than $2.4 million has been spent since 1980 with encouraging results.