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Gold/Mining/Energy : Conquistador Mines Ltd. (CMG-V)
CMG 34.24-0.8%Dec 1 4:00 PM EST
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To: Tomsr who wrote (1250)12/30/1999 2:16:00 PM
From: Tomsr  Read Replies (1) of 1419
 
From Bob Bishops latest (December) newsletter:
"A deal with AngloGold, the world's largest gold producer, was announced Dec.19 and should go a long way toward validating the prospectivity of CMG's Colombian gold portfolio. It goes without saying , but is probably worth noting, that AngloGold is only interested in projects with world class potential....To earn a 50% interest, Anglo must spend 2.5 million US$ within a 5 year period, and must spend $750,000 within the first 18 months. CMG will be the operator of the exploration program during the earn-in period, after which AngloGold may assume the role. Anglo's participation will allow for work to commence on CMG's portfolio beyond the Marmato project(generating results on another front)... A geological resource in excess of 7 million ounces already exist on the property, with significant potential for expansion."
"A recent financing and the dea"l with Anglo both assure the survival of CMG and will put the company in a postiton to be generating news on more than one front. My expectation is that something on Marmato will follow and as noted before, major platinum producers have shown interest in the compnay's platinum-paladium property, a former producer located in Nevada. "the probability of a deal emerging is quite high". The Anglo deal is a first step in the process of assuring an aggressive exploration program.."
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