Palmer Resources Ltd. (PMD.V) Message Board

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Gold/Mining/Energy : Palmer Resources Ltd. (PMD.V)

PMD 2.210

0.0%

Aug 11 9:30 AM EST

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To: The Barracuda™ who wrote (196)	11/9/1998 11:36:00 PM
From: yosi s	Read Replies (1) of 210

The way I got this is as follows The property owners, 2 individuals get 3 million dollars. 1 was paid today. another 1 million Feb 16 1999, and the third with actual mining permit. so far they have exploration permits. Now pdg get option to get in constroction 50% and then they retain 50% of production. other wise they get 1% smelter royalties. PDG spend about 20 million to develop this so far. So the way I see it LLL or the new company called Newco, got to get mining permit then take it through feasibility and then build the mine, at this stage PDG may choose to come back in . As for the merger. 2 shares of LLL get 1 shares of the new entity. and 1 share of PMD gets 1 share

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