Hello Everyone:
$10,500,000 cash paid by Base Metals Exploration
Caledonian Pacific Minerals N.L. CDM
Shares issued 39,960,005 Oct 6 close $0.19
Wed 7 Oct 98 News Release
Mr. David Whitfield reports
Base Metals Exploration NL has paid to Caledonian and its 100 per cent owned subsidiaries a total of $10,500,000 out of the committed amount of $12,457,800 pursuant to the agreement dated Dec. 17, 1997 between Caledonian and Base.
Details of the agreement were announced in a news release in Stockwatch Dec. 18, 1997. Base paid to Caledonian $1,500,000 prior to June 30, 1998 and since that date has paid an additional $9,000,000.
This leaves an outstanding balance of $1,957,800 to be paid by Base as it receives additional funds from its investors.
Caledonian now has cash reserves in excess of $9,000,000.
Cheers,
RTM |
