St. Jude Resources......V.SJD Message Board

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Gold/Mining/Energy : St. Jude Resources......V.SJD

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To: Fishfinder who wrote (2956)	2/13/2002 12:26:03 AM
From: AH	of 3065

I got it from Canada Stockwatch. There is another development I missed because the news release was not delivered to me for some strange reason: St Jude Resources Ltd SJD Shares issued 14,696,188 Feb 12 2002 close $.280 Tuesday Feb 12 2002 News Release Mr. Michael Terrell reports ST. JUDE INCREASES INTEREST IN MGB PLASTICS INC. St. Jude Resources has entered into an agreement with Abbey Holdings Inc. in order to acquire a 50.1-per-cent interest in MGB Plastics Inc. for a purchase price of $500,000 (U.S.). Previously, St. Jude had a contractual right to acquire up a 50.1-per-cent interest by investing $4-million (U.S.). To date, St. Jude has invested $2,091,046.32 (U.S.). This new agreement will allow St. Jude to acquire its interest with a savings of $1.5-million (U.S.). It is St. Jude's intention to take steps to spin-off its interest in MGB into a stand-alone corporate entity that, in the future, can sell finance with minimal involvement by St. Jude. St. Jude will focus its attention on developing its existing gold assets in Ghana, and to investigate other resource opportunities which can enhance shareholder value.

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