Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: Winzer who wrote (1142)	6/21/2000 11:40:00 AM
From: Winzer	Read Replies (1) of 1319

As I talk to myself, I can even come up with my own anwswers. Like is Canaccord Accumulating (see #1142). You can be the judge. It also looks like Exall had to make some edits to their PR for 1999. Not sure if I would have the time to do a line by line comparison of NR's. Exall signs agreement with Romanian government Exall Resources Limited EXL Shares issued 28,758,561 Jun 20 close $0.26 Wed 21 Jun 2000 News Release Mr. Stephen Roman reports A heads of agreement has been signed with the Romanian state-owned mining company, Minvest, SA on the Barza Brad concession located in the Golden Quadrilateral area of central Romania, near the town of Brad. The Barza Brad concession includes the presently operating Brad gold mine that is producing from high-grade underground veins. The mine has a long history, initially mined by the Romans and throughout history to present day. Production is reported to come from bonanza-type veins grading multiple ounces/ton over significant distances. The property has not had the benefit of a modern western style exploration or development program to realize its full potential. Mineralized structures have been mapped for over 12 kilometres and would benefit from a regional exploration program to potentially outline bulk minable targets. Exall also has an interest in completing a review of present mining operations with a view to modernize existing facilities. Rio Tinto holds all the ground position surrounding the Barza Brad concession. The agreement signed with Minvest allows Exall a six-month period in which to complete a due diligence review of the property. Subsequently, Exall can choose to fund an exploration program leading to a prefeasibility study. Once a prefeasibility study is completed, Exall would earn an 80-per-cent interest in the concession, with Minvest and minority Romanian shareholders holding the remaining 20 per cent. A joint venture would then be formed between the parties to develop the property. Exall would then have the right to complete a final feasibility study and build a modern mine/mill facility and be the operator. In order to finance the Barza Brad program and provide working capital, Exall has arranged a non-brokered private placement financing of up to eight million shares and two million warrants to arm's-length investors. The financing will be done at 30 cents per share. The warrant will be a two year warrant that entitles the holder to purchase one common share at 40 cents per share in the first 12 months and 50 cents share in the next 12 months. Total proceeds if all shares are placed and warrants exercised in the first year will be $3.2-million. Exall has received approval from the Toronto Stock Exchange for the financing. Exall Resources Limited is a mining and mineral exploration company operating and controlling the Glimmer mine in northeastern Ontario as well as exploring and developing other promising opportunities. Shares of the company trade on the Toronto Stock Exchange under the symbol EXL. (S.E.C. registration No. 82-3535.) (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com Way to go Can-a-????. Lets check to see who the sellers are once the halt is lifted! Winzer

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