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Gold/Mining/Energy : BLACK HAWK (TSE:BHK)

BHK 9.550

-0.2%

Jan 27 4:00 PM EST

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To: EZbeliever who wrote (100)	9/14/1998 8:44:00 AM
From: Stephen O	Read Replies (1) of 545

It spreads the risk around. BHK now has 40% without having to spend a $ for 3 or 4 years. Plus credibility. Silver Standard has Teck as major shareholder. The total amount is $6 million US of which $1.54m is cash. Plus there are many other deals out there I suspect. BHK took over Triton because TRiton was short of cash. They issued 34 million of their own shares worth at 30c a share $10,000,000 CDN. For this they have obtained Manatial Espejo where $9.3 million will be spent to obtain the same 40% that they have plus an operating gold mine in Nicaragua - El Limon with proven 8 years worth of reserves which in July produced 6,000 + ounces at a cost of $187 per ounce.

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