Cliff Resources has been reactivated as a gold mining company specializing in exploration, development and production of alluvial gold deposits in North America.
The company’s initial activities will be concentrated in California on three properties known as the Scott, the Carr and the Jupiter. Chairman Gary Last, formerly president of American Barrick Resources, says each has the potential to be an open pit mine.
The company is preparing a prospectus for the public issue of shares and warrants in October to raise about $2 million for exploration.
The company also plans to ask all shareholders to exchange their old Moncrieff Uranium Mines stock certificates for the new Cliff Resources certificates. Cliff financial statements for the 9-month period ended June 30 show a working capital deficiency of $92,068 and a deficit of $555,286.
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