Erin Ventures nearing deal on Yugoslavian ground
Erin Ventures Inc EV
Shares issued 23,105,095 Oct 5 close $0.25
Fri 5 Oct 2001 News Release
Mr. Blake Fallis reports
Erin Ventures has agreed in principle to the terms of a partnership with a
leading international chemical company. A strategy has been jointly
fashioned, which encompasses the development of the entire Jarondol basin
borate deposits in Yugoslavia, including Erin's Piskanja property.
Erin is actively seeking input and approval for this plan from the Electric
Power Corporation of Serbia (EPS) -- Erin's current partner on the Piskanja
property. Erin anticipates entering into a binding definitive agreement if,
as and when EPS and requisite Yugoslavian authorities formally endorse this
proposed partnership. Erin expects to meet with all parties involved in the
near future to further this process.
In addition, the evaluation of a commercial-scale sample of borate material
taken from the Jarondol basin as reported in Stockwatch on July 9, 2001,
has been completed. Erin has been informed that this analysis, which was
conducted independently of Erin, has revealed grade, composition and purity
of the borate materials comparable with past analysis conducted and
reported by both Erin and EPS.
There is no assurance that this proposed partnership will be successfully
completed. However, if the partnership is ratified, it may have a material
effect on Erin Ventures. Accordingly, Erin continues to advise shareholders
to exercise caution when dealing in the corporation's shares until a
further announcement is released on this matter.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com |
