Alamos Minerals Ltd. and National Gold Corporation Shareholders Approve Amalgamation.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 24, 2003 Alamos The name Álamos can refer to the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AAS) and National Gold Corporation (TSX VENTURE:NGT NGT Night NGT National Grid Transco (UK gas transporter) NGT Nominal Group Technique NGT Not Greater Than NGT Next Generation Technology NGT Next Generation Telecom (China) NGT NASA Ground Terminal ) announce that shareholders of their respective companies have approved an amalgamation to form Alamos Gold Inc. at the Extraordinary General Meetings held today. It is anticipated that Alamos Gold Inc. will commence trading by the end of February. The Chairman and President of Alamos Gold Inc. will be Chester Millar, founder of Glamis Gold Ltd. and Eldorado Gold Corp. Mr. Millar is a pioneer in the field of open pit heap leach technology and has developed several mines to profitable production. John McCluskey will be Vice President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alamos Gold Inc. and Stephen Stine will be Vice President and COO. Under the terms of the amalgamation, shareholders of Alamos Minerals Ltd. will receive one share of Alamos Gold Inc. for each 2 shares of Alamos Minerals Ltd. held. Shareholders of National Gold Corporation will receive one share of Alamos Gold Inc. for each 2.352 shares of National Gold Corporation held. The capital structure of Alamos Gold Inc. will consist of 32.8 million shares issued and outstanding and 44.9 million shares on a fully diluted basis. The merger consolidates the ownership of the Salamandra Property which hosts the large Mulatos gold deposit in Sonora, Mexico. The merger will provide a greater asset base and capitalization, facilitate financing, and reduce administrative and overhead costs overhead costs see fixed costs. , leading to a more cost effective and efficient development of the Mulatos Deposit. The Salamandra Property has seen US $30 million in development and was the subject of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. to mine 2.2 million ounces of gold in the Mulatos Deposit. At the time the study was completed the project economics were marginal with gold at less than $300 per ounce. A scoping study completed by Pincock, Allen and Holt (PAH PAH, PAHA aminohippuric acid. PAH abbr. para-aminohippuric acid PAH 1 Polycyclic aromatic hydrocarbon, see there 2. Pulmonary artery HTN ) in September 2002 focused on a higher grade portion of the deposit know as the Estrella Zone containing 1.8 million ounces of gold. PAH concluded that with a gold price of $300 per ounce the Estrella Zone could be mined profitably and generate an Internal Rate of Return of 19.3%. The project is currently the subject of an engineering evaluation to determine the effect of higher gold prices on future development plans. ON BEHALF OF THE BOARDS OF DIRECTORS OF: ALAMOS MINERALS LTD. NATIONAL GOLD CORPORATION Chester F. Millar James M. McDonald Chairman, President & CEO President THE TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not take responsibility for the adequacy or accuracy of this release. |
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