Deak Resources
| Industry | Mining |
|---|---|
| Predecessor |
|
| Founded | 1989 |
| Successor | AJ Perron Gold |
| Headquarters | Canada |
Deak Resources Corporation was a Canadian mining company that was formed by a merger in 1989. It became AJ Perron Gold in 1994 and operated the Kerr-Addison Mine.
AJ Perron Gold became delisted from the Toronto Stock Exchange in 1998.
History
[edit]The company operated as a subsidiary of Deak International Resources Inc, formed by the merger of Wilco Mining Company, Seadrift International Exploration Limited and Deak Ariadne Limited in 1989.[1][2] It was traded on the Toronto Stock Exchange.[1]
In February 1989, the company reached an agreement with MacDonald Mines Exploration to reopen the West MacDonald zinc mine in Dufresnoy, Quebec.[3] In 1990, the company bought the Kerr-Addison Mine for $4.1 million (mostly by assuming existing debt) and used the location to mill ore from various nearby mines.[4][5] Operations were managed by the company's subsidiary GSR Acquisition Corporation.[6] The company was fined $50,000 by the Ontario Ministry of the Environment in 1992 after it polluted Larder Lake with cyanide and heavy metals.[7] After running into financial challenges, the company closed the mine and terminated the employment of the workers.[8]
In May 1993, brothers John and Alex Perron of Kirkland Lake used their company Gwen Resources to buy a controlling share of the struggling company and appointed Alex Perron as company president.[8] The brothers renamed the company AJ Perron Gold in 1994[5][4] and made plans to increase production at the Kerr-Addison Mine.[8]
After owing $2.1 of taxes to the township of McGarry, the company's assets were seized by bailiffs. Threats of litigation by the company against the township were made, but were not followed through.[4][5] The company was delisted in 1998.[4]
References
[edit]- ^ a b "Deak amalgamates". National Post. 3 January 1989. p. 14.
- ^ Mining Steak Widened, The Province, 13 March 1988, P. 45
- ^ "Zinc mine deal near". The Montreal Gazette. 18 Feb 1989. p. 74.
- ^ a b c d Obituary: Alex Perron, The Northern Miner 30 September 2002, p.5
- ^ a b c Dan Westell (14 June 1997), Township and mine in tax showdown, National Post, p. 6
- ^ "Kirkland Lake in its prime despite its image in movies". National Post. 2 April 1991. p. 59.
- ^ Ontario fines Deak $50,000 for Larder Lake cyanide spill Archived 2023-06-02 at the Wayback Machine, The Northern Miner, 19 October 1992
- ^ a b c Franczyk, Walter (11 Feb 1994). "Deak plans to expand gold milling". Kirkland Lake Gazette. p. 14.