McGF
Good mornin to ya.
Article will be of interest to ipj holders.
BTW it appears that the Dattel group of companies are bucking the general trend for junior golds. Note trading of ipj and dayak over the last couple of weeks. Could it be the Mongolian move or optimistic about busang? G&M says the internet is moving the price of bre-x stock? Is this believable? Who is Goldman, RMC, Bigdude,etc.?
Gold down $2.20. Oil is down as well. The last couple of months haves been a pain where the sun don't shine.
Rick
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: JAVA GOLD CORPORATION
CANADIAN DEALING NETWORK SYMBOL: JVAG JVAG.A
OTC Bulletin Board SYMBOL: JVGLF
APRIL 28, 1997
Java Gold Successfully Acquires Mongolian Goldfields
TORONTO, ONTARIO--Java Gold Corporation ("Java") announced today
that shareholders of Mongolian Goldfields Corporation
("Mongolian") have tendered 12,650,001 common shares, representing
100 percent of the outstanding shares of Mongolian , to Java's
offer dated April 3, 1997 to acquire all of the issued and
outstanding shares of Mongolian on the basis of one share of Java
for every two shares of Mongolian. All of the conditions to the
offer having been satisfied or waived, Java expects to take up and
pay for the tendered shares of Mongolian within the time period
provided in the offer.
The authorized share capital of Java consists of an unlimited
number of common shares, of which 17,620,911 common shares are
issued and outstanding. As a result of the tender of 12,650,001
common shares of Mongolian, Java's share capital will be increased
by approximately 6,325,000 common shares (representing
approximately 35.9 percent of the current issued and outstanding
shares of Java). Mongolian is a non-reporting issuer with fewer
than 50 shareholders.
Mongolian is engaged in the business of exploring for and
development of gold and other precious metals in Mongolia.
Mongolian owns directly and indirectly 5 special and strategic
licenses totaling 2.0 million hectares. Each license area was
specifically chosen after researching the available detailed
geological mapping. Mongolian and its 19.5 percent shareholder,
International Pursuit Corporation, were two of the first companies
to select licenses within the country's exciting gold belts. All
the Mongolian properties contain numerous gold showings and at
least three prospects are ready for drill testing during the 1997
field season.
Mongolian also holds rights to alluvial gold deposits in the
Zaamar Valley with indicated resources of 800,000 ounces.
Mongolian will operate two plants on these dry alluvials beginning
in May with planned production of 12,000 ounces in 1997.
Stephen R. Dattels,
Chairman of the Board
William B. Burton,
President |
