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Gold/Mining/Energy : CDN. MOMO PUPPIES

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To: Lola who wrote (9526)	9/29/1999 12:58:00 AM
From: SwampDogg	Read Replies (4) of 36688

So much for no insider trading.... VEN-T looks to at least double on this news...PHNPI (as of today) Vengold sells Lihir Gold shares; debt repayment Vengold Inc VEN Shares issued 143,002,957 Sep 28 close $0.30 Tue 28 Sept 99 News Release Mr. Ian Telfer reports Vengold has disposed of 95 million shares of Lihir Gold Limited for proceeds of approximately $153-million (Australian). These funds will be used to repay approximately $85-million (U.S.) of the corporation's outstanding debt including full repayment of the Orogen loan. Following completion of this transaction, the corporation will have cash reserves of $21-million (U.S.), debt of $20-million (U.S.), and hold indirectly 53.8 million shares or 5.7 per cent of Lihir Gold Limited. The corporation's interest in Lihir Gold includes a right of first refusal on the 17.2 per cent of Lihir Gold held by Rio Tinto. As of Sept. 28, 1999, these shares have a market value of $59-million (U.S.). (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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