Southern Metals - SUH.V (formerly Aranlee Res. - ARB.V) Message Board

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Gold/Mining/Energy : Southern Metals - SUH.V (formerly Aranlee Res. - ARB.V)

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To: Essam Hamza who wrote (49)	1/3/1997 10:01:00 PM
From: Rick McDougall	of 254

EH The following is a news release by the VSE dated 96/12/30. Aranlee Resources Ltd The VSE has accepted for filing an initial agreement dated Nov.25/96 between the company and Ing. Jorge A. Daroca and Lapacha Minera S.R.L. whereby the company will acquire a 100% interest in 4 precious metal and base metal properties in Argentina. Consideration consists of the payment of $8.91m as follows: 30k by Nov./96 : 100k by May7/97; 140k by Nov.4/97; 280k by May4/98; 560k by May 4/99; 1.12m by May 4/00; 2.24m by May 4/01; and 4.44m by May 4/02. The company may relinquish a particular property at any time with a corresponding reduction in future options payments. ===================================================== Is the above the reason for the "DRILL TO KILL" program that you refer to in your previous post? Exactly what is the significance of the $ and dates in the above news release? How would it affect the drilling program (schedule) of ARB? Brand New & Still Shiney!! Rick

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