Rick Boulay, will you please fix your e-mail? Here is my question, if your listening in:
Shore Gold Inc. has had some interesting diamond results in Saskatchewan.
Can you give me an update on Goldcona (see your news release of Jun29,
1999).
"
Marum Discloses Private Placement Investment
June 29, 1999 -- In September 1998, the Company purchased a private
placement in Golconda Resources Ltd. ("GA" on The Alberta Stock Exchange).
Marum purchased 165,000 units for a total cost of $33,000. Each unit
consisted of one Golconda share at $0.20 per share and a share purchase
warrant exercisable at $0.24 per share until September 17, 1999. The
purchased shares and any shares obtained by the exercise of warrants are
restricted from trading until September 17, 1999.
This disclosure is being made on the basis that the investment may now
constitute a material asset. The hold period on the private placement and
the warrant stock is now less than three months and the current value of the
investment, assuming exercise of the warrant stock, is approximately
$160,000 calculated on the basis of a recent Golconda share price of $0.60.
Golconda recently announced that favourable geology was encountered while
drilling on Golconda's Saskatchewan property as described in several news
announcements issued by Golconda since April 15, 1999.
The Golconda investment was made as part of a exploration agreement whereby
Marum and Golconda would become 50% joint venture partners in certain
specific mineral exploration properties that might be acquired as a result
of exploration activities. No properties have been acquired under the terms
of the agreement."
Q: Have you acquired the mineral properties? Is the Shore Gold property in
the same area?
Larry Meneely
PS Golconda has a site under construction - it isn't always working though.
goldconda.com |
