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Message: Kinross buys 6.5 pct stake in Millrock

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Kinross buys 6.5 pct stake in Millrock

posted on May 29, 09 01:21PM

kinross has taken an interest in yet another junior:

TORONTO, May 29 (Reuters) - Millrock Resources Inc said on Friday it has received a private placement of C$350,000 ($320,000) from Kinross Gold Corp.

Kinross has bought 2.19 million units in the small mining and exploration company at 16 Canadian cents per unit. Each unit is comprised of one Millrock share and one half share purchase warrant. The placement will give Kinross a 6.5 percent interest in the Vancouver-based company.
Millrock will use the proceeds to carry out reconnaissance surveys and property acquisitions in Alaska, the company said in a statement.

http://www.iii.co.uk/news/?type=afxn...

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