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: NOVEMBER 25, 1997
Exact name of registrant as specified in its charter:
CENTURION MINES CORPORATION
Commission File No. 0-17048
State or other jurisdiction of Incorporation: UTAH
I.R.S. Employer I.D. Number: 87-0429204
Address of principal executive offices including zip code:
860 South 500 West Street, Salt Lake City, Utah 84101
Registrant's telephone number, including area code: 801-534-1120
ITEM 5. OTHER EVENTS
The Registrant, Centurion Mines Corporation, is a U.S. mineral exploration
and development company. In the ordinary course of its business, it has
reviewed the declining prices of gold and copper and the increasing price of
silver in the present metals market and has decided upon a course of action
that, if implemented, may include acquiring another mineral resource company,
as well as purchasing significant silver properties to add to its present
portfolio of gold, copper and other silver, patented (privately-owned), mining
properties in the State of Utah.
Accordingly, the Registrant has entered into preliminary discussions with
Royal Silver Mines, Inc., to consider further business arrangements between
the two companies. The intended purpose of this plan is to combine the Regis-
trant's privately-owned mining properties in the State of Utah, comprising
the OK Copper SX/EW project, currently under construction, its Tintic mining
district holdings, and its other Utah exploration properties, with Royal's
extensive privately-owned silver properties in the Coeur d' Alene (Idaho)
mining district and Royal's advanced-stage mining development projects in
Mexico and Chile, including its major copper project in the Mocha mining
district of Chile, presently under contract with Teck Resources, Ltd. (Canada).
In furtherance of this course of action, the Registrant has arranged to purchase
certain Coeur d' Alene silver properties plus certain other privately-owned
mining properties from Royal Silver Mines, Inc. These properties have an
aggregate value of approximately US$1.5 million.
Additional plans of the Registrant include the scheduling of its 1998 Annual
Shareholders Meeting, to be held in Utah on January 30, 1998. For the meeting,
the Registrant has named a slate of directors for election that includes three
of the Registrant's present directors, Spenst Hansen, David Morgan and Orson
Mabey, two present Royal directors, Howard Crosby and John Ryan, plus one
additional outside director nominee, Larry Keyes, a former president of Emerson
Electric, of St. Louis, Missouri. This slate of directors represents a modifi-
cation of the Registrant's previously announced plans to substantially re-
structure its Board of Directors and management at the Annual Meeting. It is
expected that additional nominations will be made before the meeting is held.
The Registrant also announced the intention of its current CEO and President,
Mr. Spenst Hansen, to remain on the Board, but to retire from active service
in executive management, following the 1998 Annual Shareholders Meeting.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Index to Exhibits Required by Item 601 of Regulation S-K.
NONE
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: December 10, 1997 REGISTRANT:
CENTURION MINES CORPORATION
BY: /s/ C M Chavez
---------------------------
Carlos M. Chavez, Secretary
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