VANDERBILT &lt;VAGO> TO RAISE COMMON, MERGE

  Vanderbilt Gold Corp said
  shareholders at a special meeting approved its reincorporation
  in Delaware, an increase in authorized common to 25 mln shares
  from 12 mln shares, and a non-qualified stock option plan.
      It also said shareholders approved the merger of Morning
  Star Mine interests held by six corporations in exchange for
  issuing 2,098,602 shares of its common. It said the acquisition
  brings its ownership in Morning to over 94 pct and it intends
  to acquire the remaining interests before mid year.
      It said its plans call for 1987 production of 30,000 ounces
  of gold with product costs per ounce at about 200 dlrs.
  

