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AM Resources forms gold trading unit, names new CEO

AM Resources Corp. established a gold trading unit, dubbed AM Resources Trading Corp., to buy gold from artisanal producers and transport it to refineries.

The company said May 22 that the subsidiary expects to close its first deal in June.

AM Resources said the business will enable it to partly finance working capital while leveraging management expertise and their network of South American gold producers.

In addition, the company named Dominic Voyer as its new CEO. Voyer will replace David Grondin, who will remain as the company's president.

AM Resources resumed trading on the TSX Venture Exchange earlier in May after restructuring.