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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: marcos who wrote (3910)9/29/2001 9:28:59 AM
From: Al Collard  Read Replies (3) of 11802
 
marcos, latest news from your pick GEO-t:

Geomaque lender allows until Oct. 18 for restructuring


Fri 28 Sept 2001

News Release

Mr. John Paterson reports

Geomaque Explorations is continuing to work with its principal lender,
Resource Capital Fund II LP of Denver, Colo., on the restructuring of its
credit and security arrangements with RCF under the agreement dated June 9,
2000, and has reached agreement with RCF to extend the time to finalize the
terms of this restructuring to Oct. 18, 2001. In the meantime, RCF has
deferred all payments required under the credit agreement.
The company's financial adviser, Haywood Securities Inc., is assisting with
this restructuring as well as examining all other alternatives to further
enhance shareholder value.
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