ERG Resources (TSE) has acquired 6.9 million of its own shares, representing a 62% interest, from Pamour (TSE). The two companies were involved in a gold tailings reclamation project at Timmins, Ont., before the facility was placed on care and maintenance in April. ERG is currently discussing the future of the project with its bank.
ERG has also entered into an agreement with Pamour and Giant Yellowknife Mines (TSE) which gives ERG up to 24 months to reinstate its option to acquire several of Pamour’s dormant tailings dams in the Timmins area.
Royal Oak Resources (TSE) recent purchase of Pamour assets did not include Pamour’s interest in ERG.
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