This is interesting - a shell doing a deal with Teck
Haddington International Resources Ltd -
Haddington option agreement with Teck
Haddington International Resources Ltd
HDN
Shares issued 1,462,111
1999-11-30 close $0.12
Wednesday Dec 1 1999
Also Teck Corp (TEK.B)
Mr. John Tarrant reports
In Stockwatch Nov. 15, 1999, Haddington International Resources had declared
that it reached agreement to acquire an interest in six gold prospecting licences in
Tanzania, East Africa. Pursuant to an agreement with Teck Corp. dated Nov. 21,
1991, Teck has the right to enter into an option agreement over any new mineral
properties acquired by Haddington.
Haddington is pleased to announce that Teck has exercised its option with respect
to the Tanzanian gold properties being acquired by the company. If Haddington
completes a preliminary feasibility study on the mineral properties, then Teck will
have the right to arrange the financing of the costs, including further exploration,
development and construction costs, of bringing the properties into commercial
production.
The acquisition of the gold projects in Tanzania remains subject to completion of
due diligence and the approval of the Canadian Venture Exchange. |
