Twin Mining (formerly Twin-Gold) Message Board

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Gold/Mining/Energy : Twin Mining (formerly Twin-Gold)

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To: Letmebe Frank who wrote (427)	4/5/2002 12:08:37 AM
From: russet	Read Replies (1) of 613

From WillP,... Twin spent about $4-million at Jackson Inlet last year, and Mr. Derbuch said that the company would spend about double that amount in the year ahead. The program would have a base budget of about $2-million, with $3-million allotted for the next sample and an equal amount for another round of drilling at Freightrain, Cargo and several other anomalies. Mr. Derbuch hopes to put a hole into each one of the targets at Jackson Inlet, and the company should keep the Lakefield Research laboratory busy for another year. To do that, Twin will have to go back to the market to raise considerably more cash, as at the end of last year, Twin's working capital had declined to just under $2-million. Coming up with money has been tough for most junior explorers, but Twin has had considerable success with equity financings in recent years. In 2000, Twin Mining raised about $11-million, although it resulted in the issue of nearly 22 million shares.

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