The merger between Roxmark Mines Ltd. and Ontex Resources Ltd. has taken effect. For more info, visit the Goldstone Resources Inc. website. The merger brings to investors, in one TSX-listed company:
- consolidation of properties in the Beardmore-Geraldton camp and a strong position from which to participate in additional future consolidation
- expanded known gold resources (nearly 1 million ounces indicated and inferred, 43-101 compliant) on the doorstep of the company-owned Northern Empire Mill—plus 30% of The Hardrock Project operated by Premier Gold where a 43-101 report is anticipated before the end of 2009
- greater resource potential, and synergies in exploration and development
- a larger market presence and diversification of risk
- a stronger combined Board and management team
- enhanced liquidity, capital market profile, and financial strength
- operating efficiencies leading to significant cost reductions.
The merger values each RMK share at .8 of an ONT share.