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FORM 6-K
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
COMMISSION FILE NUMBER 0-15577
FOR THE MONTH OF MARCH 1998
CONSOLIDATED NEVADA GOLDFIELDS CORPORATION
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(Translation of registrant's name into English)
1801 Broadway, Suite 1620
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Denver, Colorado 80202
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(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .
ENCLOSED IS PRESS RELEASE #98-005 FOR CONSOLIDATED NEVADA GOLDFIELDS
CORPORATION.
Pursuant to the Requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CONSOLIDATED NEVADA GOLDFIELDS CORPORATION
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(Registrant)
Date: Mar. 26, 1998
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By: Mike Kolin, Chief Operating Officer
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DENVER, CO - MARCH 23, 1998
#98 - 005
2:00 PM MST
CONSOLIDATED NEVADA GOLDFIELDS CORPORATION ANNOUNCES
CHANGES AT THE AURORA MINE AND CHANGES IN MANAGEMENT
Consolidated Nevada Goldfields Corporation ("CNGC") announces that considering
the low gold price, it has decided to place the Aurora mine on a care and
maintenance basis.
Significant prestripping and other capital investments, which include the
expansion of the tailings impoundment, would be required to continue
operations. Consequently, the Company has decided to temporarily suspend
operations at its Aurora mine in Hawthorne, Nevada, and await higher gold
prices.
CNGC also announces that Mike Kolin has been promoted to the position of Chief
Operating Officer. He will be in charge of the Company's operations. CNGC
further announces that its Senior Vice President of Operations, Jack
Haptonstall, resigned on March 17, 1998. James S. Stirbis, Jr., the Corporate
Secretary / Treasurer, has also resigned effective March 18, 1998. Both Mr.
Haptonstall and Mr. Stirbis contributed greatly to CNGC during their tenures
and will be missed by everyone.
Consolidated Nevada Goldfields Corporation is a Denver-based, international
mining company with three producing mining properties. The Company reserves
include 51 million ounces of silver and 740,000 ounces of gold. The Company's
principal property is the Pachuca silver mine, which has continuously produced
silver for five centuries, in central Mexico north of Mexico City. The
Company shares trade on the Toronto Stock Exchange under the symbol KNV; on
NASDAQ under the symbol KNVCF; and on the Stuttgart, Frankfurt, and Berlin
exchanges under the symbol CNV.
Statements in this release which are not historical data are forward looking
and involve a number of risks and uncertainties, including but not limited to
the price of commodities, currencies, production, construction, and
permitting or regulatory delays, reserve estimation of tonnage, grade and
metallurgical recoveries, exploration success and reserve growth, litigation,
capital costs, and other risks that are detailed in the Company's SEC filings.
CONTACT: Consolidated Nevada Goldfields Corporation, Denver, Colorado
Phone (303) 296-3200 Fax (303) 296-9130
