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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 24, 1994
Date of earliest event reported: August 17, 1995
ATLAS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-2714 13-5503312
(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
370 SEVENTEENTH STREET, SUITE 3150
DENVER, COLORADO 80202
(Address of principal executive offices)
(303) 825-1200
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
The news releases dated August 17, 1995 and August 18, 1995, copies of
which is attached hereto as Exhibits 1 and 2, respectively, are incorporated
herein by reference and made a part hereof.
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SIGNATURES
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 hereunto duly authorized.
ATLAS CORPORATION
Date: August 24, 1995 By: /s/ MICHAEL WASHINGTON
-----------------------
Michael Washington
Chief Financial Officer
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EXHIBIT INDEX
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Exhibit No. Description Page No.
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<S> <C> <C>
1. News release dated August 17, 1995 5
2. News release dated August 18, 1995 6
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Exhibit 1
ATLAS TO PURCHASE DOBY GEORGE GOLD PROJECT
_______________________________
Denver, CO, August 17, 1995 -- Atlas Corporation (NYSE:AZ) announced today it
has agreed to purchase the Doby George Gold Project, Nevada, from Independence
Mining Company Inc. Doby is an early stage development project with an
indicated reserve of approximately 220,000 ounces. The terms of the agreement
call for delivery of 1.4 million shares of Atlas Common Stock to Independence
upon closing along with a payment of $400,000. The transaction has been
approved by Atlas' board of directors. It is subject to a sixty day due
diligence period and negotiation of a definitive contract.
Preliminary studies on Doby, located northwest of Elko, Nevada, indicate a
reserve of 3.7 million tons at an average grade of .060 ounces per ton. While
691 holes have been drilled to date, the three near surface deposits which
contain the majority of the indicated reserve still remain open. Metallurgical
testing indicates that the mineralization is non-refractory and amenable to heap
leach cyanidation. It is expected that the deposits will be developed using
open pit mining methods. Atlas is currently reviewing the existing data on the
project and evaluating possible development scenarios.
The Doby land position covers over 14 square miles on public land. In
addition to the main mineralization, five other zones of mineral potential have
been identified. These zones represent additional exploration upside and,
through additional drilling, may prove to be connected to the main deposits.
David Birkenshaw, Atlas Chairman and Chief Executive Officer, stated, "Atlas
has been evaluating a number acquisition opportunities over the last few months.
Doby is a near term development project with an indicated reserve and excellent
upside potential. We couldn't have asked for a project that better fits our
profile. Atlas will immediately begin a development program which includes
definition drilling, mine planning and permitting."
Atlas Corporation explores and develops mining properties. The Company is in
the process of restarting mining operations at the 105 square mile Gold Bar
Project located in Eureka, Nevada. Atlas currently holds a 28% equity position
in Granges, Inc.
#####
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Exhibit 2
ATLAS APPOINTS GARY DAVIS PRESIDENT
_______________________________
Denver, CO, August 18, 1995 -- Atlas Corporation (NYSE:AZ) announced today
that its Board of Directors has appointed Gary Davis to the position of
President of the Corporation. He had been serving as Executive Vice President
since May 15, 1995.
Mr. Davis is an engineer with over 24 years of experience in the natural
resources industry. He joined Atlas in 1989 as Vice President of Business
Planning and over the past six years has held the positions of Chief Operating
Officer, Vice President of Operations, President of Atlas Mining and Atlas
Perlite companies and, during a period of recapitalization, as Coordinating
Executive Officer. Prior to joining Atlas, Mr. Davis had been with Atlantic
Richfield Corporation for over 15 years, the majority of time was with ARCO's
coal division where he was most recently responsible for directing its worldwide
acquisition efforts.
David J. Birkenshaw, Atlas' Chairman and Chief Executive Officer, stated,
"Gary has played a major role as part of the executive team in the significant
events of the last few years. He was the key player in the recently announced
Doby purchase agreement and in the acquisition of the Granges equity position in
1994. As President, he will continue to direct the activities associated with
the restarting of gold mining operations at the Gold Bar Project in Nevada and
evaluate other growth opportunities for the Company."
Atlas explores for and develops mining properties. The Company is in the
process of restarting mining operations at the 105 square mile Gold Bar Project
located in Eureka, Nevada. Atlas also holds a 28% equity position in Granges
Inc.
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