Here's another GEM like BSW....
CASH will equal 44c a share and the stock is @ 15c.....HMMMMM.
Oro Nevada Resources Inc -
Dean Ranch surface rights sold for $4,750,000 (U.S.)
Oro Nevada Resources Inc ONV
Shares issued 18,501,945 1998-09-24 close $0.15
Friday Sep 25 1998
Dr. Robert Jones reports
Oro Nevada has entered into an agreement for the sale by its wholly owned subsidiary of the surface rights, including water and grazing rights, at the Dean Ranch in Crescent Valley, Nevada to the Cortez joint venture for cash consideration of $4,750,000 (U.S.). The Cortez joint venture consists of Placer Cortez Inc. and Kennecott Explorations (Australia) Limited.
Oro Nevada, through its subsidiary, continues to hold 96 per cent of the mineral rights on the 48,437 acres of Dean Ranch private land either directly or through lease agreements. In addition, the company holds 748 lode mining claims (15,461 acres) on federal lands over areas of greatest mineral potential.
The transaction is expected to close in the latter part of November.
Upon completion of the sale to the Cortez joint venture, Oro Nevada will have approximately $8,150,000 cash representing approximately 44 cents per share which will provide funds to seek out acquisition opportunities with high growth potential either in the resource or non-resource sectors.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
Mr Metals |
