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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Davy Crockett who wrote (1542)4/2/2001 2:29:52 PM
From: Al Collard  Read Replies (1) of 11802
 
Peter...news on your pick K-t:

Silver Standard has provided notice to Kinross Gold Corporation of its
intention to exercise its option to purchase the Candelaria silver mine
located near Hawthorne, Nev. Under revised terms for the purchase
agreement, Silver Standard will make a $100,000 cash payment, and issue
600,000 units to Kinross as well as deliver a $300,000 note payable in cash
or stock that matures in 12 months. Each unit consists of one common share
and one warrant exercisable at $3.50 per share for one year. The purchase
is expected to close before the end of April, 2001.
Silver Standard agreed to a higher cash consideration in order to purchase
from Kinross certain buildings and underlying royalties. Kinross is
continuing reclamation work that is expected to be completed toward the end
of third quarter of 2001. Silver Standard has pledged the property as
collateral pending completion of reclamation work by Kinross and Silver
Standard's successful arrangement of reclamation bonding. Due to the number
of land titles and permits for the former operating mine, the two companies
are co-operating on the most efficient methods to transfer titles and
permits, and to arrange reclamation bonding.
Silver Standard is a significant silver resource company with advanced
projects located in Argentina, Australia, United States, Canada and
Bolivia.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com
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