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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Graham who wrote (828)12/11/1997 4:51:00 PM
From: Michael Mc Donough   of 5206
 
Kensington Resources Ltd KRT
Shares issued 23,966,435 Dec 10 close $0.18
Thu 11 Dec 97 News Release
Also Pan Asia Mining Corp (PAR)
Mr David Stone reports
During the period from December 1996 to May 1997, Kensington Resources
contemplated an option to acquire a 50% interest in various joint ventures in
the People's Republic of China. In preparation, Kensington worked to secure the
proper documentation and permit to mine in China but did not exercise its option
to buy into the project. However, it agreed to work with Pan Asia Mining to
develop an option that would allow for the expeditious recovery of money spent
on the project. Pan Asia Mining acquired an interest in the China diamond
properties by the issuance of 6,953,846 shares at $3.25. Kensington has agreed
to accept 400,000 shares of Pan Asia Mining as payment in full for loan advances
made.
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