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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
ICHOR CORPORATION
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
693286 10 6
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(CUSIP Number)
Michael J. Smith, 6 Rue Charles-Bonnet, 1206 Geneva, Switzerland
Telephone (41 22) 818 2999
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
December 29, 1999
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
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Page 2 of 5 Pages
CUSIP No. 693286 10 6
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1) Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Pine Resources Corporation
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2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ X ]
3) SEC Use Only
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4) Source of Funds WC
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
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6) Citizenship or Place of Organization British Columbia, Canada
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Number of (7) Sole Voting Power 1,620,000
Shares Bene- ---------------------
ficially (8) Shared Voting Power 0
Owned by -------------------
Each Reporting (9) Sole Dispositive Power 1,620,000
Person ----------------
With (10) Shared Dispositive Power 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,620,000
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
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13) Percent of Class Represented by Amount in Row (11) 32.9%
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14) Type of Reporting Person CO
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ITEM 1. SECURITY AND ISSUER.
This statement relates to the shares of common stock with a $0.01 par value
each of ICHOR Corporation ("ICHOR"), a Delaware corporation, having a
principal executive office at Suite 1250, 400 Burrard Street, Vancouver,
British Columbia, Canada, V6C 3A6.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed on behalf of Pine Resources Corporation ("Pine"). Pine
is organized under the laws of British Columbia, Canada, is an independent oil
and gas exploration and production company and has a principal business and
office address at Burglistrasse 6, 8002 Zurich, Switzerland.
The following table lists the names, citizenship, principal business addresses
and principal occupations of the executive officers and directors of Pine.
<TABLE>
<CAPTION>
NAME RESIDENCE OR PRINCIPAL
BUSINESS ADDRESS OCCUPATION CITIZENSHIP
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<S> <C> <C> <C>
Jimmy S.H. Lee 53, Route de Malagnou, Trustee, President and Canadian
1211 Geneva 17, Chief Executive Officer of
Switzerland Mercer International Inc.
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R. Ian Rigg 5489 Greenleaf Rd., Trustee and Chief Australian
West Vancouver, Financial Officer of
British Columbia, Mercer International Inc.
Canada, V7W 1N5
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Chang S. Moon 3-306 Woosung Apt., Trustee of Mercer Korean
Dae Chi-Dong, International Inc. and
Kang Nam-Ku, Independent Consultant
Seoul, Korea
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</TABLE>
During the last five years, Pine has not been, nor to the knowledge of Pine,
have any of its officers or directors been, convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), nor have they been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding were or are subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or
finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Pine acquired 1,620,000 shares of common stock of ICHOR for an aggregate
purchase price of $5,022,000. The acquisition was funded out of working
capital, which may, at any given time, include margin loans and/or advances
under a line of credit made in the ordinary course of business.
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Page 4 of 5 Pages
ITEM 4. PURPOSE OF TRANSACTION.
Pine has acquired the shares of common stock of ICHOR for investment purposes.
At this time, neither Pine, nor, to the knowledge of Pine, any of its
directors or executive officers, have the intention of acquiring additional
shares of ICHOR, although Pine reserves the right to make additional purchases
on the open market, in private transactions and from treasury. Neither Pine,
nor, to the knowledge of Pine, any of its directors or executive officers,
have any present intention or understandings to effect any of the transactions
listed in Item 4(a)-(j) of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
On December 29, 1999, Pine purchased 1,620,000 shares of common stock of ICHOR
at a purchase price of $3.10 per share. As a result, Pine beneficially holds
and has the sole power to direct the vote and disposition of an aggregate of
1,620,000 shares of common stock of ICHOR, which represents approximately
32.9% of ICHOR's issued and outstanding shares of common stock.
To the knowledge of Pine, none of its directors or executive officers have the
power to vote or dispose of any shares of common stock of ICHOR, nor did Pine
or its directors and executive officers effect any transactions in such shares
during the past 60 days, except as disclosed herein.
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Page 5 of 5 Pages
SIGNATURE
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After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.
January 7, 2000
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(Date)
PINE RESOURCES CORPORATION
By: /s/ R. Ian Rigg
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(Signature)
R. Ian Rigg, Secretary
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(Name and Title)
