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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who started this subject	11/30/2001 10:21:13 AM
From: gold$10k	Read Replies (1) of 39344

RDU - huge volume and this... Radius Explorations Ltd - Radius to form JV on Tambor and Bella Vista projects Radius Explorations Ltd RDU Shares issued 17,900,000 Nov 28 2001 close $.200 Nov 29 2001 11:10:00 Mr. Simon Ridgway reports A letter of intent has been signed with a subsidiary of Gold Fields Limited regarding a joint venture on the Tambor and Bella Vista projects in Guatemala. The joint venture gives Gold Fields the right to earn a 55-per-cent interest in the project lands by spending $5-million (U.S.) over 3.5 years. These expenditures are staged with an initial $1.5-million (U.S.) minimum over the first 18 months after the signing of a formal joint venture agreement and a further $3.5-million (U.S.) over the following 24 months. Upon completion of the $5-million (U.S.) expenditure, Gold Fields will be vested with a 55-per-cent interest in the subject properties and Radius will retain a 45-per-cent interest. Following this earn-in, Radius will have 180 days to either make a one-time election to finance its pro rata share of continuing exploration expenditures or grant Gold Fields the right to earn a further 15-per-cent interest in the lands. In consideration for the further 15-per-cent interest, Gold Fields will finance all exploration and development costs to receipt of a bankable feasibility study. The concessions that are subject to this arrangement comprise the western portion or approximately 225 square kilometres of the total 3,300 square kilometres of concessions that Radius controls in Guatemala. Gold Fields will operate the program on the concessions that apply to the joint venture. The joint venture is subject to completion of a formal joint venture agreement and approval by the appropriate regulatory authorities. During the past two years the company has defined a significant new gold belt in central Guatemala. This belt is located within and related to the collision plate boundary between the North American and Caribbean plates. The company has compiled an extensive land package that covers the majority of a 250-kilometre portion of this belt and has investigated and documented gold occurrences along 150 kilometres of strike length. The company has commenced an exploration program on concessions outside of the joint venture lands in which the company retains a 100-per-cent ownership. Radius is well financed with a treasury of $3-million. Gold Fields owns a 12-per-cent equity interest in Radius. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com

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