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Gold/Mining/Energy : African Metals Corporation(AFR-Cdnx)(was Shiega resources)
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To: Wats who wrote (116)6/3/1998 1:44:00 AM
From: Walter  Read Replies (2) of 151
 
Wats: you have lost me here. What do you mean that there are less OS SHG shares because options did not go through? I believe the "option" that is referred to in the news release relates to Samax's joint venture interest in Nkroful. I believe Samax is entitled to a 65% to 100% interest (depending on royalty agreement with SHG) in the Nkroful concession if Samax presents a feasibility study recommending production. Perhaps the deadline for producing this feasibility study was June 1/98. Perhaps Samax is still very interested in the property except they did not get the feasibility study done in time for whatever reasons, such as bad weather, too busy with their other properties, lack of drills/equipment, etc.

However, I wish SHG would clarify this matter ASAP as the last news release is not very clear. In fact, I don't think SHG is communicating enough with its shareholders.

P.S. I believe the ex-Union Mining shareholders are entitled to some bonus SHG shares (1 million I think) if Samax issues a positive feasibility study this year. Too bad SHG does not have a decent investor relations person. I think their present IR person is a typical VSE hypester. Over a year ago, she was promising that if SHG is not at least $1.50/share by mid 1998, her name isn't Doreen Kent. I can certainly recommend several new possible names but unfortunately they are not compatible to a "family" chat thread like SI.
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