Claude Resources Might Buy Another Company

Claude Resources Might Buy Another Company

Tuesday, July 12, 2011 at 14:30

Claude Resources has its sights set on another company.

In a release, the company says it has approached the board of directors of St. Eugene Mining Corporation with an proposal to enter into an agreement to buy all of the company’s shares.

St. Eugene owns a 35 percent joint venture interest in the Amisk Gold Project in Saskatchewan, Claude owns the other 65 percent.

St. Eugene also owns a Gold project in the Flin Flon area as well.

Claude Resources says St. Eurgene’s board of directors has not responded to their proposal so that’s why they’re going public.

It’s hopeful the two sides can get together and agree on a share price.