Wed 24 Jul 96 In the News
See St Genevieve Resources Ltd (SGV) In the News
The Globe and Mail reports in its Wednesday, July 24, edition that Ste
Genevieve Resources has increased its stake in ITEC-Mineral to 39 per cent,
or 4,678,139 of ITEC's common shares outstanding. The Globe's Investment
News column says Ste Genevieve recently acquired 500,000 ITEC shares, a 4.2
per cent interest, through the Toronto Stock Exchange.
(c) Copyright 1996 Canjex Publishing Ltd. canada-stockwatch.com
THEN A LITTLE WHILE LATER............
MONTREAL, Oct. 2 /CNW/ - St. GeneviŠve Resources Ltd. (``St. GeneviŠve'')
announced today that it intends to sell a block of 4,675,639 common shares of
ITEC-Mineral Inc. (``ITEC''), representing all of its shareholdings in ITEC
and 38.9% of the total issued and outstanding common shares of ITEC (27.1% on
a fully-diluted basis). This divestiture by St. GeneviŠve is part of its
strategy of focussing on its core business of the development of and
production from resource properties.
The common shares of ITEC trade on both the Montreal and Toronto Stock
Exchanges under the ticker symbol ``IMA'', and closed on October 1, 1996 at
$2.00. The sales will be made both on and off the floor of the exchanges and
will commence on October 10, 1996. In the notice of the proposed secondary
distribution filed with regulatory authorities, St. GeneviŠve declared that is
was not aware of any important fact concerning ITEC which has not been
disclosed to the public.
St. GeneviŠve is a Montreal-based mining company whose primary objectives
are the acquisition and development of mineral opportunities in emerging
countries.
WHY BUY THEN SELL SO FAST WITHOUT ANY PROFIT???
EITHER THEY KNOW THAT itec MINERALS IS A PIG AND THEY DESPARATELY
WANT OUT (they say they know of no material changes) OR ELSE PERHAPS THEY BELIEVE THAT BY FREEING UP A LARGE BLOCK OF CAPITAL ,THEY CAN MAKE A MUCH BETTER RETURN ON INVESTMENT BY USING IT TO CLAIMSTAKE
THE SEPT-ILES REGION. this is just my opinion.not fact.
but ithink there is a strong possibility that this is the case.
St. Genevieve is familiar with the potential of the area. |
