Murgold consolidates stock, changes name

Murgold Resources (TSE) has consolidated its stock on a 1-for-10 basis and changed its name to Arimathaea Resources (TSE). The company has also completed a private placement of four million units for proceeds of $195,000. Arimathaeaplans to use the financing to place its gold property in Chester Twp., Ont., into production, and acquire interests in other mining concerns. Preliminary reserves at the Chester Twp. property are estimated at 507,365 averaging 0.23 oz. gold per ton at shallow depths.