Topic: How To Invest

Hi Pat: Any news on Acadian Mining?

Article Excerpt

Acadian Mining, $0.07, symbol ADA on Toronto (Shares outstanding: 325.0 million; Market cap: $22.7 million), holds 100% of ScoZinc Limited, which owns the Scotia zinc/lead mine, located at Gays River, Nova Scotia. Acadian mined ore at Scotia by open pit, and processed it in a mill to produce zinc and lead-sulphide concentrates for international base-metal markets. However, lower zinc and lead prices prompted the company to close the mine. The company is also developing five gold properties in Nova Scotia (Beaver Dam, Fifteen Mile Stream, Tangier, Forest Hill and Goldenville). These form its Scotia Goldfields project. All have small, defined gold resources. Acadian hopes to add to the properties’ reserves through exploration, open multiple mines and process the ore at a central facility. The company also owns a 29.12% interest in TSX-listed Royal Roads Corp. (symbol RRO). Royal Roads owns two properties that used to produce base metals. Both are located in Newfoundland. Acadian is in the process of issuing $10 million worth…