QUERIES Maybrun Mines report, yet to be published

In the Feb 22/87 issue of The Northern Miner, you indicated that Consolidated Maybrun Mines may issue an annual report and start trading again. However, nearly six months later I still haven’t heard anything more about the company. Can you provide a brief update including information on the company’s outstanding shares? C. L., San Diego, Calif.

Like everyone else who takes an interest in this Toronto-based company, we are still waiting for the release of that elusive annual report which exploration manager Pat Sheridan has promised.

Sources within the company, which remains part of the Sheridan mining group, say it will be published when time permits, but they refuse to be pinned down to a date. “It will probably be produced this year,” says Mr Sheridan.

Meanwhile, here is some of what we know about Maybrun: After the company failed to produce its 1984 financial results, a cease trading order was issued by the tse. That cease and desist order is still in place.

While remaining inactive, Maybrun’s chief asset is 424,300 shares of Alberta-listed Zenmac Zinc which represents a considerable interest in the company.

As reported (N.M., July 27/87) Zenmac has a 20% interest in the high grade zinc-copper-silver-gold deposit 70 miles east of Thunder Bay.

Reserves at the property which is being developed by Minnova Inc. stand at 3,415,000 tons grading 15.9% zinc, 1% copper, 0.96 oz silver and 0.03 oz gold. With a 1,000-2,000-ton plant in operation, full production is expected to begin in 1988.

Since Zenmac owns 1,342,500 shares of Madeleine Mines and one million shares of Anyox Metals, Maybrun also has an indirect interest in the two companies. According to Mr Sheridan, the company’s other main asset consists of 176 copper-nickel claims in the Aitkwa-Populus Lake area near Kenora in northwestern Ontario. However, it has been mothballed until Mr Sheridan decides what to do with it.

According to the company, Maybrun also owns approximately one million shares of Alberta-listed Dubenski Mines which has some gold claims in the Dogpaw, Kenora, area.

Mr Sheridan says approximately 1.3 million Maybrun shares are still outstanding. For further information, you may wish to contact Mr Sheridan directly at (416) 363-4477, failing that, a 1987-88 edition of the Canadian Mines Handbook may be helpful. It lists share prices, properties, shares issued and outstanding of hundreds of Canadian Mining companies.