Vanderbilt Gold Corp. Announces Closure of CorporateOffice and Impending Cessation of Mining...
Publication: Business Wire
Date: Monday, March 13 2000
GOODYEAR, Ariz.--(BUSINESS WIRE)--March 13, 2000
Vanderbilt Gold Corp. (OTCBB:VAGO) has been challenged over the last several years by declining gold prices and environmental battles since its inclusion into the Mojave Preserve of the National Park system.
Because the company now finds itself unable to get back into production without major financial support, the company has closed its corporate office in Las Vegas, and the corporate files are currently being housed in a storage facility. The company also faces delisting from the OTC Bulletin Board unless it makes appropriate filings with the Securities and Exchange Commission.
Ted Slanker, president of Vanderbilt, reported a few exploratory talks with various parties regarding raising capital or combining operations. These discussions are preliminary, but their lack of progress makes them uncertain and certainly not encouraging.
The company remains hopeful, even in light of the central banks' agreements to limit their gold sales into the open market, and the company is currently open to all discussions and help that would enable it to regain its former position.