This company has just restructured itself into a Venture
capital/internet incubator company specializing in early stage
internet, technology and B2B startups. Name change and symbol change
will be effective by mid March.
Tony
10/4/99 addition:
Management is actively seeking acquisitions in the technology / internet sector and are
no longer in the mining business. The management team has a long history of finding
and closing big deals.
Number as of of Oct 1/99....
Cash holdings: $19.5 Million, Debt. 0
Asset for sale (Loma de Niquel): $1 Million
Investment in Medsite.com: $1.5 Million (http://www.medsite.com/)
---Note: Medsite.com is a hot Internet IPO coming out in the next quarter. The
investment is convertible into shares of Medsite.com at a price significantly below the
IPO price. The investment should be valued significantly higher after the IPO.
Shares issued: 30.3 Million, Insiders Holding: 6.4 Million
-- Note: Insiders bought 4.2 million since Jan. 99...no shares sold
Options: 2.7 million – prices (0.48 – $2.00+), Warrants: None
Float Estimate: 7-9 Million, Burn Rate Low: ~$85,000/month |
