The Ontario Securities Commission has issued a cease-trading order to ERG Resources (TSE) for failure to make statutory filings. A hearing will take place on Dec. 14. ERG, which owns a gold tailings reclamation facility in Timmins, Ont., was excluded from the sale of Pamour (TSE) assets to Royal Oak Resources (TSE) earlier this year.
ERG says the institutional banker that holds a first charge on the Timmins assets is pursuing the possible sale of these assets. The reclamation project was put on a care-and-maintenance basis in April.
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