Sullivan Mines, and Cambior Inc. are solidifying the link between the two companies.
They had previously announced (N.M., Aug. 8/86) that Sullivan- associated Courvan Mining would have an option to purchase 2,612,900 shares of Sullivan held by Cambior.
Now, however, Sullivan and Cambior say they have a basic agreement under which Cambior will retain those shares. As well, Cambior will place three people on the Sullivan board, all to “maintain and even strengthen” the bonds between the companies, an announcement from both parties said.
They add that the exchange of interests in certain mining properties, contemplated under the previous option given to Courvan, will go ahead as agreed.