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by Stockwatch Business Reporter
The TSX Venture Exchange closed up 4.41 points to 595.74 Friday, ending the week up 2.85 points. Chris Tate's first capital pool shell, Ring the Bell Capital Corp. (RTB: halted), has completed its qualifying transaction, which is the acquisition of an Arizona copper and gold explorer called Croesus Gold Corp. The resulting issuer will begin trading on Wednesday, Aug. 7, as Arizona Metals Corp. (AMC).
Croesus has two properties in Arizona. First is the Kay Mine copper-silver-gold property, which covers 1,329 acres and is so named because it is the site of the past-producing Kay mine. The former Kay mine produced copper, silver and gold until 1966. It has since changed owners several times. From 2017 to 2018, it belonged to Brian Penney's Silver Spruce Resources Inc. (SSE: $0.04), which is now focusing its attention on a Mexican silver project. Two weeks ago, Silver Spruce received the final payment of $150,000 for the Kay Mine property from Croesus.
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