Carlin reviews merger proposal

The board of Carlin Resources (VSE) is reviewing an offer to merge with an undisclosed public company trading on the Vancouver Stock Exchange.

Carlin management believes the party is making the proposal because of an interest in the company’s existing asset portfolio. These include a 2% net smelter royalty in the Tuscarora property in Nevada being brought into production in early 1992 by the project operator. Gold production arising from this royalty is estimated at 800 oz. per year to Carlin’s account, barring unforeseen operational problems.