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Gold/Mining/Energy : AAS-V , "Remember The ALAMOS!!!!!!!!!"
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To: Tommy Moore who wrote (299)11/12/1999 6:01:00 PM
From: Tommy Moore   of 307
 
News

Alamos Minerals Ltd AAS
Shares issued 14,878,030 Nov 10 close $0.18
Fri 12 Nov 99 Property Agreement
Also Duran Gold Corp (DRN)
The Vancouver Stock Exchange has accepted for filing a letter agreement
dated May 28, 1999, between Alamos, Duran and Intercontinental Resources
Inc. (a wholly owned subsidiary of Queenstake Resources Ltd.) whereby Duran
has been assigned Alamos' 34.4-per-cent interest in the Mamanina property
which is located in Peru (Intercontinental owns a 65.5-per-cent interest).
In consideration of the assignment, Alamos will receive a total of one
million shares of Duran at a deemed price of 50 cents per share. Of this
amount, Duran will issue 100,000 shares upon exchange acceptance of the
transaction for filing. The balance of 900,000 shares will be issued in
three tranches, which are subject to certain conditions. Each will be
subject to further exchange review and acceptance based on the filing of a
geological report/valuation report.
Pursuant to a letter agreement dated May 28, 1999, between Alamos and
Intercontinental, upon Duran's acceptance of the assignment and exchange
approval, the interest shall be adjusted such that Intercontinental will
have an undivided 70-per-cent interest and Duran will have an undivided
30-per-cent interest in the property.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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