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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE
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To: Maher Sid-Ahmed who wrote (706)7/28/1998 10:04:00 PM
From: Ziggy99  Read Replies (2) of 1030
 
I contacted Pure Gold Minerals today, as I have been concerned about these questions asked about cash flow requirements.

The gist of the answer was as follows......

PUG will not lose property interests, and cash flow needs are not
immediate.....last quarterly did not yet reflect the money raised through a Rights Offering performed earlier this year, in which PUG raised over $1.75 million dollars.

Pure Gold has earned its 15% and 49% interests in the Buffalo Head claims.
PUG is fully vested, and has the cash needed to meet the requirements
of the 1998 Ashton/AEC/PUG Alberta Diamond Exploration program. Work
performed on these claims will keep them in good standing for quite some
time.

Outside of the Buffalo Head area, PUG will drop properties that PUG does not
consider to be as prospective. PUG hasn't reached any of those conclusions yet! PUG continues to explore key blocks outside of the Buffalo Head area.

PUG has not earned its interest in the South Africa Project yet, as PUG has
not paid share to earn into the joint venture. PUG will need to raise
money for this project later this year, but has not determined the terms
of such an arrangement yet.

I hope that this helps in some way to better understand the present situation. I realize Maher that this does not answer all your questions but only some.
best regards
ziggy99
Shareholder
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