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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)
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To: Little Joe who wrote (781)4/19/2000 10:55:00 AM
From: ForYourEyesOnly  Read Replies (1) of 1321
 
What will be the next step in the Cariboo Gold Rush?

Something to think about from the annual financial statements of ISLAND MOUNTAIN GOLD MINES LTD.:

"(a) Island Mountain and Mosquito Creek properties:
During fiscal 1999, the Company entered into an agreement with International Wayside Gold Mines Ltd., a company listed on the Vancouver Stock Exchange with a common
director with the Company, which grants the Company an option to earn a 50% interest in the Island Mountain and Mosquito Creek properties from IWA. The Island Mountain and Mosquito Creek properties are located in the Cariboo mining division of British Columbia. In order to earn its 50% interest, the Company is required to pay to IWGML $150,000 upon execution of the agreement (paid) and make annual option payments of $50,000 per year for the next five years, issue 500,000 post-consolidation common shares of the Company in stages based on a geological report recommending further work, and incur $4,000,000 in
exploration expenditures over the next five years. The properties are subject to a 3% net smelter returns royalty (one-half of the net smelter returns royalty may be purchased by the Company for US $2,100,000) and a 10% net profits interest.
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