Int'l Pursuit (T.IPJ) Message Board

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Gold/Mining/Energy : Int'l Pursuit (T.IPJ)

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To: GlobalMarine who wrote (713)	6/14/1998 4:19:00 PM
From: Ron Everest	of 835

Rand I contacted Sally the IR last week and asked about the Minoro deal for Hinoba-an. She stated to me that the deal is still on and is waiting on completion of financing arrangements with Minoro. It would have been nice to receive more information but....guess we have to wait for a detailed news release. It figures that with the size of the deal $100 million US plus the $15 million US entry price to Minoro that their bankers will be doing a very thorough examination of Minoro, the deal and copper markets before committing. The US 56 cents manufacturing costs with Minoro as the operator is very encouraging to me and could carry the deal throught. The bankers will want to thoroughly examine the contents of the feasibility report. There is also the possibility that another company will show to take the Minoro position. If this deal is as good as it appears, US$15 million to a large operation is a small price to hold such a property. Wouldn't surprise me to see this scenario surface. Best regards, Ron E

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