The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
A challenging market could see a prominent junior miner pull out of the Flin Flon-Snow Lake region. Ontario-based Murgor Resources is divesting itself of certain dormant assets in order to more efficiently fund exploration and administrative costs. Among the properties Murgor will potentially sell: the Hudvam deposit, about 47 kilometres northeast of Flin Flon, and the Wim deposit, just south of Snow Lake. 'In the difficult market conditions we are currently experiencing, where equity financings are extremely dilutive if at all possible for junior mineral exploration companies, Murgor holds the distinct advantage of owning valuable assets...to ensure the company's long-term viability,' said Andre C. Tessier, president and CEO of Murgor, in a news release. Murgor just accelerated two option agreements and concluded the sale of its Waconichi and Benoist gold properties in Quebec for proceeds of $559,500. Murgor owns a 100 per cent interest in both the Hudvam and Wim properties, subject to a two per cent net smelter return to Hudbay should mining ever occur. Neither TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Murgor.
