Lone Ranger, The following extract from BAM's Dec1/97 news release should answer your questions.
Todd
17 Monday Dec 1 1997
Mr Scott Broughton reports, Barramundi Gold has negotiated extensions to the Wandoo option agreement, held through its 92% owned subsidiary, Mangrove Jack Pty, and to the option agreement with United Keno Hill Mines (refer to news release of May 7 1997). The Wandoo option agreement has been extended by two years until August 5 2000. If Mangrove Jack Pty has not exercised the option by August 5 1998, or by August 5 1999, it must make additional payments on these dates to extend the option. The United Keno Hill Mines option agreement has been amended by extending, by one year, all of the dates upon which option payments were to be made, or work commitments satisfied (refer to press release of May 7 1997 for details of the original option agreement). In consideration for these amendments, Barramundi issued 50,000 shares to United Keno Hill Mines on September 30 1997. Details of these option agreement extensions are set out in Barramundi's quarterly report for the three months ended September 30 1997 |
