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Gold/Mining/Energy : Western Copper Holdings Ltd. T.WTC
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To: the Chief who wrote (157)1/25/1998 10:28:00 AM
From: dave brown  Read Replies (1) of 401
 
From a WTC news release dated October 28, 1996.

"The Teck, Western Joint Venture covers 225 square kilometer area of interest. Each party is responsible for its own funding based on the initial interests of 55% Teck and 45% Western. Teck has the option to earn an additional 10% interest by arranging 100% of production financing. Teck amy also purchase from Western upon completion of feasibility an additional 5% on the Net Present Value of the project."

From a December 19, 1997 release, "The San Nicolas deposit is located on claims optioned from Luismin S.A. de C.V. ("Luismin") which has the right to participate with the Teck/Western Joint Venture as to 25% by funding 25% of the production costs. If Luisum declines to participate in production costs, its interest will be reduced to 15%.

I would like to think Mexico is an honourable country to conduct business. At this point I don't see an problem the structure of this deal and see a great opportunity here. I'm buying more on weakness.
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