REPORT TO SHAREHOLDERS.--- <:-)
As part of the diversification investment strategy previously reported to the shareholders on May 30, 2000, Holmer signed an Option Agreement to purchase up to 1,000,000 common shares of Visa Gold Explorations Inc. ("Visa Gold") at a price of $0.50 per share in the first year and $1.00 per share in the second year.
Visa Gold (VGLD.CDN) is an established exploration company which has the right to
explore and recover precious metals in ship wrecks within territorial waters of Cuba.
Visa Gold already identified shipwrecks and has begun salvaging some artifacts from
its first wreck site. On August 16, 2000, Visa Gold announced its intention to raise
$1,000,000 for exploration in Cuba. The common shares of Visa Gold are listed on
the Canadian Dealing Network and currently trades in the range of $0.70 - $0.80 per
share.
For additional information, please visit the web site: www.visagoldexplorations.com
•On Loma Hierro Silver project, based on a leasing arrangement with nearby Cobre Mantua Mine, studies are well underway to determine the revised capital and operating costs. This study expected to be completed in September, will enable Holmer and its equal partner GeoMinera S.A. to reach a final operating decision prior to arranging financing of the Cuban silver project.
holmergold.com |
