Options repriced - UP and work ongoing NEWS
Anzex Resources Ltd -
Anzex Resources continues field work on Longwoods
Anzex Resources Ltd
AZX
Shares issued 7,265,077
1999-07-07 close $0.12
Friday Jul 9 1999
Mr. Kevin Good reports
Field work is continuing on the company's Longwoods project, New Zealand.
The company's project geologist, Phil Ford, has reassessed the program following
a recent visit to the Stillwater, Mont., platinum mine. From available scientific data
and literature, Mr. Ford had long held the view the Longwoods was strikingly
similar in geological style to Stillwater. As a result of his visit he has now been
assigned complete geological control with authority to remodel the overall
exploration program. The company will not replace the role of technical director, a
consulting position held until recently by Professor Anthony Naldrett.
The company has cancelled, subject to regulatory approval, a total of 844,000
stock options at an exercise price of 21 cents per share issued to previous
directors, officers and certain employees of the company, with the exception of
25,000 options at an exercise price of 21 cents per share issued to Mr. Ford.
Subject to regulatory approval, the company has granted 800,000 stock options
to directors, consultants and employees. The options are exercisable for a period
of five years commencing on July 8, 1999, and expiring on July 7, 2004, at an
exercise price of 30 cents per share.
Finally, on June 14, Craig Glance tendered his resignation as a director of the
company. The board moved immediately to appoint Stephen Hoult, a professional
economist, to fill the casual vaca |
