The guy made 75000 US in a half hour. Oh well - it is taxable down there. Up here it would have been free. Here is the release.
Date:
Thu, 02 Mar 00 16:49PM PST
From:
"MAJOR GENERAL RESOURCES LTD." <info@majorgeneral.com> Add To Address Book Add To Junk
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Subject:
NEWS RELEASE 00-04
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<bold>MAJOR GENERAL ANNOUNCES
</bold>
1550 - 409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254
Fax: (604) 685-2814
Date: March 2, 2000
Trading Symbol (CDNX-M GJ)
Shares Issued: 41,742,995
News Release
00-04
<bold>SALE OF HAMMERDOWN/RUMBULLION GOLD DEPOSIT COMPLETED
</bold>
The sale of Major General's Hammerdown/Rumbullion Gold Deposit to Abiting
Inc. has been completed. Abiting has paid $3,400,000 in cash for the
Deposit located in the Springdale-King's Point mining district of
Newfoundland and will pay a further $600,000 at the rate of $10 per ounce
of gold produced in excess of 70,000 ounces to 130,000 ounces. After
200,000 ounces of production Major General will receive $20 per ounce
provided the price of gold exceeds US $290 per ounce.
Additionally, Abiting has agreed to purchase all of the third party
royalty interests and to cancel these royalties and back-in rights on
that portion of the Rendell-Jackman mineral claims retained by Major
General outside that portion of the Hammerdown/Rumbullion Gold Deposit.
The Rendell-Jackman claims include the Lochinvar Base Metal Deposit
containing 570,000 tonnes of 7% Zn equivalent as well as 3 kilometers of
the Hammerdown deformation zone which has demonstrated gold potential.
Two kilometers southwest of the Hammerdown Deposit, Major General owns a
100% interest in the Orion Gold Deposit which has been partially drilled
and contains a resource of 60,000 ounces of gold to a 300 metre depth.
Major General will continue to explore its Newfoundland holdings for both
gold and base metals.
William J. Coulter
President
For further information, please call:
Major General Resources Ltd.
Telephone: (604) 685-5254
1-800-667-7866
majorgeneral.com
Email: info@majorgeneral.com
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
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