Wednesday November 12, 12:17 pm Eastern Time
Company Press Release
Winchester Mining Has Completed First Phase of Limestone Agreement
WILMINGTON, Del.--(BUSINESS WIRE)--Nov. 12, 1997--WINCHESTER MINING CORP. (OTC Bulletin Board:WNCR - news; the ''Company'') is pleased to provide an update to the October 24, 1997 press release regarding its negotiations to acquire a major chemical grade limestone deposit.
The Company reports that it has completed formal negotiations to acquire one (1) Billion tons of limestone and has entered into further negotiations to complete the sale of 400,000,000 million tons over a period still to be determined.
The resulting sale will produce estimated yearly cash flows of approximately $80,000,000 US (Dollars) at current market prices.
The Company will issue further news releases, outlining specific details of the completed agreement with its supplier, as well as, further updates on the sales agreement once formalized.
The information contained herein has neither been approved nor disapproved by regulatory authorities. |
