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Gold/Mining/Energy : VENGOLD VENGF this is real

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To: Fuller who wrote (250)	9/29/1999 11:46:00 PM
From: Terry Over	Read Replies (3) of 350

News on Venfgold today. Now out of debt: Vengold Announces Sale of Lihir Gold shares and debt repayment VANCOUVER, BRITISH COLUMBIA--Vengold announced today that it has disposed of 95 million shares of Lihir Gold Limited for proceeds of approximately Australian $153 million. These funds will be used to repay approximately US$ 85 million 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 US $ 21 million; debt of US $20 million; and hold indirectly 53.8 million shares or 5.7% of Lihir Gold Limited. The Corporation's interest in Lihir Gold includes a right of first refusal on the 17.2% of Lihir Gold held by Rio Tinto. As of today's date these shares have a market value of US $ 59 million. Additional information about Vengold Inc. can be obtained at www.vengold.com More News: biz.yahoo.com

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