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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)
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To: Enigma who wrote (689)4/8/2000 10:10:00 AM
From: Enigma   of 1321
 
From Stockhouse - what's fuzzy about it?:

"Mosquito deals are outlines at the www.cdnx.ca site under MSQ bulletins. Mosquito has two deals with IWA,the original one dated November, 1994 which gives IWA the option to earn 50% interest in the cariboo gold quartz. To earn the 50% IWA must pay $50,000 and issue 500,000 shares over 5 years, conduct $1.45 million in exploration over six years, after which IWA must spend $500,000 per year on exploration until production decision is made.
Latest deal dated February 1999 allows IWA to acquire the remaining 50% of the cariboo gold quartz, 100% of the Island Mtn. and 100% of the Mosquito creek claims. To complete the deal IWA must pay MSQ cdn$4.0 million in a series of yearly payments to December 31, 2003. The large payment of $3.5 million is due on or before December 31, 2003. Mosquito retains a 3% NSR on all claims which can be purchased for around US$4.0 million. Hope this helps."
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