Abacus Minerals Corporation (V.AMC) Message Board

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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC)

AMC 2.583

-0.3%

Nov 3 3:59 PM EST

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To: morrie who wrote (276)	1/12/1999 3:15:00 PM
From: Neil Irwin	Read Replies (2) of 397

Called Paddy earlier this afternoon. He told me that the $250,000 non-brokered placement has closed and the money is in the bank. Further, the $1M placement is fully subscribed and should close later this week or at the beginning of next week. The crews should be operational at la Manchuria by the end of the month. They met with Phelps Dodge in December to discuss Ferragudo. Apparently Asarco and others had previously worked this property (), but there were many inconsistencies in the data. They have reworked the data, and defined maps and targets. They have done "lots more than expected". Looks like PD wants to move on this, but will probably do so in late spring or early summer. Looks like this are starting to move (finally). Neil. Can you say 'Red Flag'?

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