Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: GWalker who wrote (11)	2/27/1997 5:21:00 PM
From: justaninvestor	of 210

Chimborazo JV agreement nearing completion; drilling to begin Graham: Here is the release; thanks for telling me how to do it! Agate Bay Resources Ltd ABE Shares issued 8,009,290 Feb 24 close $0.84 Tue 25 Feb 97 News Release Also Inmet Mining Corp (IMN) Mr Jack Maris reports Chimborazo Copper Deposit, Chile The final agreements between Agate Bay Resources (60%), Inmet Mining Corp (40%) and the property vendor, Cyprus Amax Minerals Company, are nearing completion and proceeding as expected. Signing is anticipated shortly. Drilling is scheduled to begin by April 1 1997. In total, 27,000 metres of reverse circulation drilling has been outlined for the first year. This will consist largely of infill drilling and drill testing of zone extensions. The joint venture is presently reviewing options regarding surface and mineral rights for adjoining ground. Management feels confident this initial drill program will significantly increase the 3 billion pound copper deposit in both tonnage and grade (present indicated mineable reserves: 263 million tonnes at 0.6% copper). The Agate Bay/Inmet joint venture has identified a core group of geologists and engineers to direct the first year's work program. Tenders have been issued to engineering firms for metallurgical testwork. Negotiations are at an advanced stage with financial institutions to finance the 1997 US$3 million work program. Management is currently evaluating these proposals. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next