New owners for BLM Mines

The controlling shareholder of United Keno Hill Mines (TSE), BLM Mines, has acquired new owners.

Romith Investments and Stephen Powell have each acquired, directly or indirectly, 50% of the issued and outstanding common shares of BLM. Stan Bharti will remain as president, and Risto Laamanen an officer, of BLM. BLM has a 44.8% interest in United Keno Mines, those shares purchased from Falconbridge Ltd. in 1990. Falconbridge had placed Keno’s silver mining operations in the Yukon on a care and maintenance basis in 1989. Extensive rehabilitation of the mill and other facilities at the Yukon site were undertaken by Keno last year, but low silver prices kept the company from re-opening the operations.