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Gold/Mining/Energy : RIO Amarillo Mining - Ready to go ?
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To: SirVinny who wrote (75)5/23/1998 4:43:00 PM
From: kidl   of 90
 
That's the latest I saw:

Friday May 8 1998

Mr. James Wright reports
Randall Powell has resigned as a director of the company. Mr. Powell, who has been a director since December 1993, now resides in Melbourne and is committed to his work in Australia.
Rio has been unable to negotiate an extension to its option agreement for the Aija concession in Peru and has terminated the option. Rio was unwilling to continue making significant monthly and annual option payments to maintain its interest in the concessions. However, Rio continues to hold a concession covering the western section of the Aija property.
Rio is in discussions to raise additional financing for the company to add value to an enlarged asset base for the company.

Doesn't look pretty! But looking on the "bright" side, I do think James is not about to give up.
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