A proposed merger has been announced by Quebec Sturgeon River Mines (TSE), The Coniagas Mines (TSE), Garrison Creek Consolidated Mines (CDN) and Anglo Dominion Gold Exploration (TSE). Share exchange ratios for the merger have yet to be announced, but will be based on relative adjusted net values of each company’s assets.
The merger will create a single corporation with total estimated gold output of 36,000 oz. and gross revenues of about $15 million in 1992. The new corporation’s principal assets will be exploration properties in Canada and substantial holdings of St Andrew Goldfields (TSE) and Bachelor Lake Gold Mines (TSE). The merger is subject to shareholder, director and regulatory approval.
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