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by Stockwatch Business Reporter
The TSX Venture Exchange added 2.38 points to 676.77 Tuesday. Peter Hughes's capital pool shell, BHK Resources Inc. (BHK), has completed its qualifying transaction by acquiring Dome International Globe Inc. from Silver Bull Resources Inc. (SVB: $0.18) for $1.5-million (U.S.) in cash. The shell graduate also reimbursed Silver Bull $75,000 (U.S.) for expenses related to closing this deal. Dome owns the Ndjole manganese and gold property in Gabon, a French-speaking country in West Africa and the world's second-largest producer of manganese dioxide, a compound used to make alkaline batteries. BHK Resources has changed its name to BHK Mining Corp. and will resume trading Wednesday.
BHK acquired the property in Gabon with money from a $3.22-million private placement of 20-cent shares sold by Canaccord Genuity. IPO shareholders of the shell paid 10 cents for their shares, so they should be pleased with BHK's deal. The Ndjole property was previously explored by AngloGold Ashanti Holdings PLC, a former joint venturer of Dome International. AngloGold spent $5.9-million on exploration between October, 2009, and August, 2012, after which it decided to terminate its joint venture and relinquish any interest it had in the property.
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