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by Stockwatch Business Reporter
The TSX Venture Exchange slipped a fraction to 977.05 Monday. Raymond Harari and Peter Simeon's shell, Momentous Capital Corp. (MCC: halted), plans to acquire Astra Exploration Ltd. for the shell's qualifying transaction. Momentous will roll back 1 for 2, leaving it with 2.65 million shares issued, then issue about 19,226,000 shares to its target's shareholders.
Astra owns an 80-per-cent interest in the Pampa Paciencia gold-silver property, which covers 21.4 square kilometres in northern Chile. Historical sampling results from previous operators included 93 grams per tonne gold and 162 grams per tonne silver. As for drill results, a previous operator yielded up to 7.71 g/t Au and 46.58 g/t Ag over 3.75 metres at the property in 2016. Astra acquired its Pampa Paciencia interest just last month from Arena Minerals Inc. (AN: $0.135) in exchange for 5.82 million shares or 40 per cent of Astra. (Arena is focusing on a lithium property in Argentina.)
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