Brohm Resources has acquired 3.9 million shares of MFC Mining Finance Corp. from Kerr Addison Mines and Ventures Trident Limited Partnership at a cost of $28,710.
Brohm is now the majority shareholder with a 32% interest in mfc which holds a 51% interest in Blackdome Mines and a 50% interest in the Stibnite mine in Idaho.
The Blackdome mine in British Columbia is producing at a rate of approximately 50,000 oz gold and 120,000 oz silver per year. The Stibnite mine is producing approximately 30,000 oz gold per year.
A feasibility study on the Gilt Edge mine in South Dakota is expected soon. Brohm has leased a 100% interest in this project which is expected to commence production in the first quarter of l988 at a rate of 60,000 oz gold per year.
According to Brohm President Wayne McClay, his company is not planning any changes to the operations of Blackdome or mfc. However, a detailed review of the merger will take place during the next few weeks.
Be the first to comment on "Merger gives Brohm Blackdome interest"