LAST BUT NOT LEAST — Princeton sells half of Teranov

Black Hill Minerals has bought a half interest in Teranov Mining and can buy the other half from owner Princeton Mining (TSE) on or before Dec. 1, 1994.

In return for the initial half interest, Black Hill has advanced $425,000 to Teranov for working capital purposes; it is committed to advance up to $1 million.

The two companies are negotiating the purchase terms for the remaining half interest.

Teranov owns an asbestos wet milling plant which operates about eight months per year at Baie Verte, Nfld. In 1992, the plant reported a net loss of $2.1 million on revenues of $4.3 million.