first_imgAtna Resources has acquired all of Canyon Resources’ issued and outstanding shares of common stock, warrants and debentures.  Canyon is now a wholly owned US subsidiary of Atna. As a result of the merger, Atna has created a strong platform for gold production growth.The larger company has the following characteristics:A multi-million ounce gold company highly leveraged to the price of goldNear term gold production opportunities from the restart of the Briggs mine, development of the Reward and Pinson projectsA management team with proven skills and vast experienceThe financial size and strength to ensure continued growth and attract resourcesFocused on the western US, primarily NevadaStrong upside potential from the combined portfolio of gold development, exploration and royalty propertiesLeverage to the uranium market through carried uranium exploration joint venturesJim Hesketh, the new President and COO of Atna, said, “Our priority will be to restart operations at the Briggs gold mine in California with gold production projected to commence in early 2009. The planned development of our Reward gold project in Nevada will significantly add to our production stream, subject to the issuance of the final mining permits and financing. In addition, we expect our venture partner, Pinson Mining Co, a subsidiary of Barrick Gold, to continue the exploration and underground development of the Pinson gold project in Nevada. The projected cash flow from these three projects, combined with potential future cash flows from our royalty properties, will allow us to achieve our goal of becoming a sustainable, growth oriented, profitable gold producer.”last_img