Trivalence gains ground in W. Africa

Junior Trivalence Mining (VSE) has set its sights on a former-producing alluvial diamond mine in Guinea, West Africa.

The company intends to acquire all the shares of privately owned First City Mining, the vendor, by issuing 3 million of its shares at a deemed price of $1 each, as well as assume all financial obligations to acquire and develop the Aredor diamond mine concession.

First City, which is based in Alberta, recently negotiated terms with the Guinean government for the 1,212-sq.-km property.