October 5th, 1998 News from Donner Website is different.
Sure looks to me like Donner already got the money and is using it right now. So why at .75 when Donner was trading at .33? Maybe based on what they were not telling us? And some people would have been real pee-ood if Teck was buying shares at market if they knew they were worth much more?
""VSE Symbol: DML
Teck to make $1,050,000 investment in Donner
"David Patterson, Chief Executive Officer of Donner Minerals Ltd., reports that Teck Corporation has committed to make an additional $1,050,000 investment in the Company. Subject to the approval of the Vancouver Stock Exchange, the Company and Teck have negotiated a reduction in the exercise price of the 1,400,000 B warrants held by Teck as a result of their initial private placement in Donner. The B warrants, which expire on October 18, 1998, currently have an exercise
price of not less than $2.75. The Company will be seeking Vancouver Stock Exchange approval of a $0.75 per share exercise price, a premium to the current share price. The funds from Teck's exercise of the B warrants will be used towards continued geological and geophysical field surveys and diamond drilling on the Company's exploration properties in Labrador in 1999. Drilling continues on targets throughout the South Voisey Bay Project. Promising drill targets have been identified through the integration of geology, airborne geophysical results and ground geophysical results, including
Pulse EM and gravity, on the North Gabbro, South Gabbro, the Suture Zone to the east and the intervening area between the North Gabbro and South Gabbro and the Suture Zone. Pulse EM and regional gravity surveys continue to be carried out over the North Gabbro and South Gabbro."
ON BEHALF OF THE BOARD OF DONNER MINERALS LTD.
David Patterson
Chief Executive Officer"" |
