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Gold/Mining/Energy : Cypango Ventures Ltd. (CAV)
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To: RMF who wrote (407)3/11/1999 12:34:00 PM
From: VAUGHN   of 457
 
Hello Micap

Long time no hear.

I stand corrected, here is the breakdown:

The Yamba Lake claims were previously under option to Cypango, which has
agreed to terminate its option upon receipt of regulatory approval from the
Vancouver Stock Exchange, in return for receiving an 11% undivided interest.
Upon SouthernEra earning its 51% undivided interest, Cypango will have a
further option (exercisable within 60 days of SouthernEra being vested) to
acquire an additional 2 1/2% undivided interest by paying to Tanqueray and
Mill City $2,500,000 for each additional 1% undivided interest. At the time
of SouthernEra earning its 51% undivided interest and prior to Cypango
exercising its option to acquire an additional 2 1/2% undivided interest, each
of Tanqueray and Mill City will own a 19% undivided interest in the Yamba Lake
claims.

I would be cautious if you are thinking that you will make a killing on CAV. While it will share nicely in any discovery, I doubt management will keep matters as they are currently structured. You might be better off in MIY in the long run but then that's just my opinion.

Traci, I bought at $0.04 and so every penny is profit for me. If you bought much higher I must agree, that profits may be thin but not unlikely.

Regards
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