What happened to NSR and O’Brien Energy

Sagging precious metal prices and a dramatic decline in the amount of available flow-through funding for juniors have left many other companies in a similar predicament. The shares of NSR have been trading at a low of around 13 cents recently on The Toronto Stock Exchange.

NSR’s only “active” project at present is its Rand-Malartic gold property in Quebec, which was supposed to be the site of additional drilling by Belmoral Mines, but that doesn’t look too likely since Belmoral is also having problems of its own.

On another front, NSR has been trying to interest a major mining firm in optioning its Rouyn gold properties, but there are no new developments to report on that situation, the company told The Northern Miner.

The most recent news regarding O’Brien Energy & Resources is that an amalgamation of that firm with several other companies has already been completed. A lawyer contacted by The Northern Miner said arrangements are being made to distribute shares of the new amalgamated company to O’Brien shareholders. The amalgamated company, called Richmond Gulf Resources, will trade eventually on Ontario’s over-the-counter market known as COATS, the lawyer said.

O’Brien was delisted last year from The Toronto Stock Exchange and the Ontario Securities Commission had issued a cease-trade order for failure to file financial data. Richmond Gulf took over O’Brien last year, aiming to put the company back in good standing with the regulatory authorities.

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