Final proceeds of production from the former Renabie gold mine, owned jointly by American Barrick Resources (TSE) and Corona (TSE), will be distributed to unitholders of the Renabie gold trust this month.
Under a termination agreement established by Renabie Gold Mines and Guardian Trust Co., Jan. 17, the trust will be wound up Feb. 17 and final cash payments distributed to unitholders of the trust on the same date. In addition to a royalty payment of 610 of 1 cents per unit, which was distributed Jan. 10, the agreement provides for a final cash settlement of about 5 cents per unit.
A notice of winding-up from Guardian, together with a letter of transmittal to surrender units of the trust, is being mailed out to shareholders, according to Renabie Gold Mines, a company owned 45% by American Barrick Resources and 55% by Corona.
Be the first to comment on "Renabie gold trust wraps up agreement"