SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities
Act of 1934
Date of Report (date of earliest event reported): July 8, 1998
Mallon Resources Corporation
(exact name of registrant as specified in its charter)
Colorado 0-17267 84-1095959
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
999 18th Street, Suite 1700, Denver, Colorado 80202
(address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (303) 293-2333
not applicable
(former name or former address, if changed since last report)
Item 5. Other Events
Mallon Resources Corporation (the "Company") issued the following
press release, dated July 8, 1998, the text of which follows:
Denver, Colorado -- Mallon Resources Corporation (Nasdaq:
"MLRC") reported that its former majority-owned subsidiary, Laguna
Gold Company, has announced its private placement of $6.5 million
of 10% corporate notes due June 2001. The placement also included
the issuance of warrants to purchase 11 million shares of Laguna
stock, which gives the investors the right to purchase an
approximate 29% equity stake in Laguna. According to Laguna, the
funds raised will be used to develop and place on production its
Rio Chiquito gold mine in Costa Rica.
Mallon owns approximately 12.3 million shares of Laguna common
stock, which constitute approximately 46% of the currently
outstanding Laguna shares.
Mallon Resources Corporation is a Denver, Colorado, based oil
and gas exploration and production company operating primarily in
the San Juan and Delaware Basins of New Mexico. Mallon's Common
Stock is quoted on Nasdaq under the symbol "MLRC."
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.
Mallon Resources Corporation
July 14, 1998 By: _/s/ Roy K. Ross__________________
Roy K. Ross, Executive Vice President
