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by Stockwatch Business Reporter
The TSX Venture Exchange lost 4.90 points to close at 941.93 Monday. Randy Clifford's third capital pool shell, Smartset Services Inc. (SMAR: suspended), has arranged an Eastern Australian mining deal for its qualifying transaction. It is acquiring the Mt. Morgan gold-copper property in Queensland as well as a private B.C. entity, Great Southern Gold Corp., which owns four gold-copper properties in New South Wales. The shell will roll back 1 for 1.333, leaving it with 11,625,000 shares issued, then issue 20,079,545 shares to the owner of Mt. Morgan and 10,568,182 shares to the owners of Great Southern Gold.
The owner of Mt. Morgan is GBM Resources Ltd., a Perth mining company that is focusing its attention on four other Australian properties, including a joint-venture gold-copper mine in South Australia that began production last year. On March 31, 2021, GBM Resources had $8.43-million in its treasury (currencies in this paragraph are Australian). It trades on the Australian Securities Exchange and peaked at $2.09 in 2009. It has since declined, spending the last nine years under 50 cents and the last five years under 20 cents. It closed at 12 cents today.
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