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Gold/Mining/Energy : Poplar Resources (PPX.V)
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To: Essam Hamza who wrote (14)10/31/1997 5:47:00 PM
From: Tom Cat  Read Replies (1) of 81
 
Essam, more good news on the Poplar Front.....see below, for those that doubt on the viability of South African Diamond exploration (sepculative at this point of course) see Rupert Resources.....

Poplar Resources Ltd -

Fully financed Norwegian subsidiary formed; $1.1m financing
obtained

Poplar Resources Ltd
PPX
Shares issued 16155679
1997-10-30 close $0.3
Friday Oct 31 1997
Mr Gennen McDowall reports
The company has formed a fully financed Norwegian
subsidiary company, North Star Diamonds. Poplar is
transferring all of its Scandinavian/Finnish assets into this
subsidiary. Exploration for diamonds in the Baltic Shield will
now be financed and carried out by North Star Diamonds.
Poplar's Scandinavian/Finnish diamond assets were acquired
one year ago from Caledonia Mining by issuing 3.3 million of
Poplar's shares (valued at just under C$1 million). A group of
Norwegian investors has acquired a 3 5% equity interest in
North Star Diamonds in exchange for NOK5.5 million (C$1.1
million). This arrangement leaves Poplar with a controlling
65% interest in North Star Diamonds, while providing
financing for its Baltic Shield operations without dilution of
its shares.
Sweden
An application is pending for diamond exploration rights to
the northern half of Sweden (270,000 sq km). This project is
being pursued with Alcaston Mining of Australia, a 50/50
joint venture partner. An extensive stream sampling program
in Sweden was conducted this summer. North Star Diamonds
will now process these samples in the company's Finnish
laboratory.
Finland
100% of 45 diamond mining claims. Till samples have been
gathered previously. North Star Diamonds will now begin
processing these samples in the company's laboratory.
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