Calico, Paramount in merger deal

By Pat Caldwell
For the Enterprise

VALE – There will be little change for a potential local gold mining operation in the wake of a merger between two mineral resource firms.

Earlier this month Paramount Gold Nevada Corp., announced it had entered into a “definitive arrangement agreement” to obtain all issued and outstanding common shares of the Canadian Firm Calico Resources Corp., the company in the process of developing the Grassy Mountain gold mine near Vale.

“This acquisition is consistent with Paramount’s strategy of acquiring mineral properties with known deposits in safe jurisdictions and advancing them toward production,” Glen Van Treek, the Chief Operating Officer and President of Paramount said in a press release.

The Grassy Mountain gold mine venture is still progressing through permitting procedures with the state but the merger will benefit shareholders in both firms, Calico Resources Corp . . .