Shareholders Approve Merger Of Diamond Companies

Monday, October 24, 2005 at 13:12



An executive with Shore Gold says a likely merger between his firm and a rival mining company could help speed up construction of a proposed diamond mine.


George Read says regulatory approval is all that separates Shore Gold from joining with Kensignton Resources, after its shareholders agreed to the move this past Friday.


Reed says this definitely has the potential to help speed up work at the Fort a la Corne diamond exploration site.


For the past few years, both companies have been looking for diamonds at a site approximately 50 kilometres east of Prince Albert.


Read says the merger should be competed later this week.