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I was at a special meeting yesterday and everyone was there including the Cuban ambassador to Canada. Frank Smeenk announced that MMP has bought out GHMC's interest for 21,500,000 shares. Plus issued a warrant option to ghmc for 6,000,000 at .78 that has to be taken half in 90 days and half within 180 days so with the company's current cash for this year's drilling and this other roughly 5 mm dollars from these warrants they will be in great shape. They expect to primarily drill the flats and skarns and FS said he expects some very exciting news this year. The TSE listing hangup should now pass as getting this deal done was necessary and they should now be approved anytime. There was a presentation about MACO and they feel that there might be a good chance for a discovery in the near future. They are doing a warrant issue and they have found seepage in block 22(MMP.A owns 25% of MACO). The deal as far as MMP goes increases the effective MMP position in the GH project. I'm guessing in the 15-20% range. Things definately are better today than yesterday. Now we just need some more results. |
