20/04/2004 - 22:00

Straits joins Golminco

20/04/2004 - 22:00

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Straits joins Golminco

AN agreement for Straits Resources to invest CDN$1 million in Canadian miner Goldminco has been finalised. Straits’ investment will be through a note, convertible at CDN$0.15.

Straits is vending the Cowra and Brandy properties it owns in joint venture with Gateway Mining to Goldminco to bolster the Canadian company’s tenements in the Lachlan Ford Belt in New South Wales.

It is also giving a Queensland property surrounding the closed Tick Hill Mine.

In return for the property Straits will receive 20 million shares and five million warrants in Goldminco.

That will give it about 37 per cent equity in Goldminco and representation on its board.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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