Near the Jaba Arizona properties is a lot of good geology.
AMT International Mining Corp -
AMT letter of intent with General Motors
AMT International Mining Corp AAI
Shares issued 27,003,627 2000-04-13 close $0.13
Friday Apr 14 2000
Also General Motors Corp (GM)
Mr. John Hick reports
AMT International Mining Corporation has entered into a letter of intent with General Motors Corporation under which GM proposes to purchase from AMT, on a take-or-pay basis, a minimum of 40 million pounds per year of LME and/or COMEX deliverable copper cathode over a five-year term commencing in 2002. This purchase proposal from GM is at competitive market prices for copper and GM will have the option to renew the purchase agreement with AMT for an additional five years.
Under the terms of the letter of intent, AMT would grant to GM options to purchase up to a total of 25 million common shares of AMT at graduated, escalating exercise prices ranging from 15 cents to $4.25 over the term of the options. The transactions under the letter of intent are subject to receipt by AMT of all applicable regulatory approvals and to the settlement and execution by both parties of a definitive binding agreement.
John Hick, president of AMT, comments: "Our proposed agreement with GM will position AMT to proceed with the requisite mezzanine and major project financing in order to bring its property at Copper Creek, Ariz., to the feasibility and production stages. As well, AMT will retain a significant percentage of its projected production, ranging from approximately 20 per cent in the first half-year of production to approximately 50 per cent as production increases, in order to satisfy other purchasers. We are particularly pleased that GM is negotiating as part of its agreement the grant of share purchase options, the exercise of which would create a further source of funds to AMT for future property development."
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
Chucka- Copper Creek is near the Vekol Shores Claims even the Silver Bell Claims. Geo Map below: ( under Phoenix toward Tucson, so maybe AZ will heat up as HIGH GRADE ELECTRO COPPER NEEDS for Cathods heats up..Maybe Basis.)
rd.bc.yahoo.com
P.S.- "What is good for General Motors is good for the Consolidated!" Consolidated Jaba. Co-Jabadabbado |
