Hello Igor. Finding the reference to the exact number of shares is proving difficult. Based on the information on the merger found in the Circular, it should be something like this:
UKH 17,084,950 shares including Options and Warrants
NDU 17,330,000 shares including Options and Warrants
x 1.35 = 23,395,500
Total = 40,480,445
Check out NDU's SEDAR site for more information:
sedar.com
Full details of the Company's plans are in the NDU/UKH Arrangement which are at the SEDAR site in a 777k PDF file called "Management proxy/information circular" informally known as the "Circular".
You'll need Adobe Acrobat to read the PDF file. You can install easily after you've downloaded it from:
adobe.com
It's a large file and will take a few minutes to load, unless your computer has insufficient RAM or processing ability, in which case it may not load at all.
UKH's SEDAR site is:
sedar.com
Here's the press release from December on the proposed merger which contains specific information regarding the reserves:
United Keno Hill Mines Ltd -
Agreement reached on merger
United Keno Hill Mines Ltd
UKH
Shares issued 15031450
1997-12-10 close $0.9
Thursday Dec 11 1997
See NDU Resources Ltd (NDU) News Release
Mr James Stephen and Mr Stephen Powell report
Agreement has been reached on the terms of the proposed
merger of the respective companies, due diligence has been
completed, and prior conditions have been met. The
previously announced agreement with Yukon Gold and
Mineral Development Company has been terminated and the
parties have waived the condition respecting NDU's financing
activities. A binding merger agreement is expected to be
settled shortly, following which shareholder, regulatory and
other approvals will be sought.
The merger of the companies and the consolidation of their
respective property holdings in central Yukon will result in a
company which enjoys a base metal-hosted reserve and
mineral resource inventory of over 70 million ounces of
silver. Combining NDU's properties, particularly the Marg
and Blende deposits with the United Keno properties and
infrastructure at Elsa will offer the operating synergies and
capital efficiencies necessary to permit the early resumption
of commercial production of silver from the United Keno
properties and exploitation of NDU's Marg and Blende
deposits.
United Keno's Elsa properties presently host geologic
resources and mineable reserves of 944,000 tons grading 30
ounces per ton silver, 4.8% lead and 3.9% zinc. United Keno's
Elsa properties have produced in excess of 225,000,000
ounces of silver since production commenced in 1914 and less
than 25% of the favourable host horizon has been explored to
date.
NDU's Marg deposit hosts a drill-indicated reserve of
6,092,000 tons at an average grade of 1.76% copper, 2.46%
lead, 4.60% zinc, 0.029 ounces per ton gold and 1.8 ounces
per ton silver. The Blende deposit hosts a drill-indicated
resource of 21,495,000 tons of open pittable material with an
average grade of 3.04% zinc, 2.79% lead and 1.6 ounces per
ton silver. Both deposits indicate potential for expanded
tonnages and contain sections of higher grade mineralization
that could be mined soon after start up.
Plans call for the resumption of production at Elsa at an
average rate of 500 tons per day. First year production is
forecast at approximately 6,000,000 ounces of silver at an
average cost of approximately US$3.00 per ounce. Once
production has been resumed, initial activities will
concentrate on further expansion of the mineral resources at
Elsa, and then on establishing the feasibility of the Marg
deposit and the economics of a new 2500 to 3000 tons per day
mill to be constructed at Elsa. |
