Potential JV partner for Mexican land holdings
Kalahari Resources Inc KLA
Shares issued 30,098,251 Mar 20 close $0.88
Mon 23 Mar 98 News Release
Mr Albert Applegath reports
The company believes a potential world class VMS base metal, precious metal
deposit has been found in Zacatecas State, Mexico, by Teck Corp and Western
Copper Holdings.
Because of this potential major discovery, over 4,000,000 acres in eight
blocks is in trust for Kalahari in the name of a Mexican company.
As consideration for the transfer of the property, Kalahari would issue
1,500,000 shares for the vending, plus reimbursement of expenses and is
subject to a 2% net smelter return.
Everything is subject to regulatory acceptance and satisfactory title.
Kalahari is now in serious negotiations with a major international mining
company for a joint venture partnership on part of its Mexican land
holdings. The earn in terms will be reported as soon as they are better
defined and negotiated.
More than one major company has shown an interest in the company's holdings
and is studying Kalahari's land position.
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