Kerr Mines Inc (KER)

[goldenpolarbear]

"...San Gold and Kerr Mines Set to Merge
By: Murray McNeill
Posted: 08/20/2014 1:00 AM

"...San Gold Corp. and a Toronto mining company have agreed to merge their operations in a move company officials say will double San Gold's annual production.

San Gold president Gestur Kristjansson said Tuesday the merger will lead to the reopening of Kerr Mines' mothballed Copperstone mine in Arizona, which has the capacity to produce 50,000 to 60,000 ounces of gold per year.

That, combined with the 50,000 to 55,000 ounces from San Gold's own Rice Lake mine near Bissett, will give the combined company 100,000 to 110,000 ounces of gold per year.

"It gets us up to that mid-tier-producer level...," Kristjansson added.

"Once this transaction has been completed, the combined entity will have a much stronger market presence that either company could not have achieved on its own," said Kerr Mines chairman Stephen McIntyre.
Kristjansson said the merger, which still requires shareholder and Toronto Stock Exchange approval, could mean he and one or two other San Gold executives could end up either relocating to Toronto or spending more time commuting to and from there. That's where new CEO Greg Gibson, who is also CEO of Kerr Mines, has his office...."
http://www.winnipegfreepress.com/business/san-gold-and-kerr-mines-set-to-merge-271959061.html