Let's see if Standard can get a deal with them.
this is how to do it,
lets do a J V with them.
geomaque.com
they have the mill under construction. could they truck the ore from Zopilote ???? and make money.
that would add at least 1 mil + to mill feed.
This would be a deal,
or just sell out, cash and stock.
XXXXXXXXXXXXXX
For Immediate Release
Geomaque Files Final Rights Offering
Documentation
Proceeds to be used for completion of Vueltas del Rio Mine construction
TSE Symbol: GEO
[All figures quoted in US$]
September 7, 1999
TORONTO --Geomaque Explorations Ltd. today announced the filing of final materials
with all required regulatory authorities regarding its previously announced Rights offering.
Shareholders of record of Geomaque on September 14, 1999 will receive one Right for
every Common Share held, and will be entitled to subscribe for Units on the basis of six
Rights plus $0.60 for each Unit. The Rights will expire on October 12, 1999.
Each Unit is comprised of one Common Share and one-half Warrant. Each whole Warrant
will entitle the holder to acquire one Common Share at a price of $0.90 for 18 months
following closing.
The Rights will be listed and posted for trading on the Toronto Stock Exchange. The Rights
will be exercisable by shareholders resident in all provinces of Canada and in the United
States of America, but not elsewhere.
Assuming that all of the Rights are exercised, the gross proceeds derived from the Rights
offering will be approximately $4.6 million, exclusive of any proceeds from the exercise of
warrants, and will be used primarily to fund the completion of construction of the Vueltas
del Rio Mine in Honduras.
Canaccord Capital Corporation will act as soliciting dealer. Canaccord has also agreed to
provide a standby purchase commitment relating to this rights offering, whereby it will
purchase, at $0.60, up to 2.5 million units not otherwise subscribed for and purchased by
rights holders pursuant to this rights offering.
Geomaque Explorations Ltd. is an international gold mining and exploration company which
is producing gold from its 100%-owned San Francisco Mine in Sonora, Mexico, building
the Vueltas del Rio Mine in Honduras, and exploring for gold in the Americas.
For further information, please contact:
Sean Stokes
Manager, Investor Relations
(416) 956-7470
Stock still has lots of long term potential < IMO >
happy trading.
4,000 traded today.
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