Natural Resource Holdings Ltd. (TASE: NRH) has bought a gold mine in Lander County, Nevada, US, for an "insubstantial amount".
The company said that the mine produced 105,450 ounces of gold in 1982-86, and a 78,000 ounces of gold and 88,207 ounces of silver in 1987-89, when production was stopped due to low prices for precious metals. The mine was bought buy a Canadian company in 1992, which conducted a survey that found proven/probable reserves of 120,960 ounces of gold, and possible reserves of 46,745 ounces of gold.
The price of gold is currently at $1,703.70 per ounce.
Natural Resource is controlled by founder and CEO Roy Sebag. The company owns gold deposits in California, Montana, and Oregon, and iron deposits in northern Ontario.
Natural Resource's share price rose 4.4% to NIS 0.408, giving a market cap of NIS 37 million.
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