Ontex Resources (ONT Alberta) Message Board

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Gold/Mining/Energy : Ontex Resources (ONT Alberta)

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To: Gemini who wrote (370)	8/27/1999 5:04:00 PM
From: mark warburton	Read Replies (1) of 519

News should be out early next week on 3 holes from Foxear. Phase 2 has 6 completed holes to date no assays yet available. Drilling on Cherbourg presently. Fortune minerals declined to exercise their warrants at .38 cents. The board of Fortune exercised caution under the present mining situation and concluded that the limited funds in treasury should be held. Fortune has work going on other projects as well as a normal course issuer bid in place for its own common shares. A lach of excess capital to invest at this time as well as the neccesity to have some money in treasury were key components in the decision. Works well for the balance of Ontex shareholders in that the stock was not diluted at a cheap price and should fortune exercise at a later date they will have to pay a minimum of 68 cents. have a great weekend all Mark

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