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Gold/Mining/Energy : Starpoint Gold

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To: Mike Paulin who wrote (1534)	6/6/1997 11:55:00 PM
From: Bohdan	of 2378

Mike, The deal is similar but there are changes for the better, IMO. The differences are that under the old deal: pay $2.5mil + 2mil shares up to start of production. new deal: pay $1.8mil + 1mil shares old/new: $6mil when sales of $100mil was reached old/new: 4mil shares + 4mil warrants on proven reserves of 1.5mil carats. old: new: 300k shares at $10mil, 400k shares at $20mil I don't know whether it is a good deal but it is a better deal in that the cost is more dependant on the performance of the property, IMO. Need to crunch some numbers. There is no mention of a royalty fee to SML which was in the original deal but was removed from the revised deal (I take nothing for granted anymore). Also need to verify the royalty % to Endiama. Another PP, this time a BIG one, is going to be needed to purchase equipment. We've been through this before. Later.

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