Black Bull Resources Inc. of Shelburne has signed an agreement with a group of investment and business professionals to change the nature of business from a mining company to an investment company.
The company's web site says that the White Rock Mine holds one of the largest reserves of white quartz in North America, enough to meet long-term demand from many markets.
It started mining quartz at its White Rock Mine near Shelburne in late 2005, although the site has seen little activity for some time.
Martin MacKinnon, the Chief Financial Officer of Black Bull Resources explains nothing really changes at the Shelburne County mine in the immediate term.
"This may give us an opportunity to look at possibly reopening and give us the resources necessary to perhaps even put it back into production."
MacKinnon says the 'reverse takeover' will allow people to invest in a publicly traded company that has remained dormant for the past couple of years.