MIRANDOR-MIQ ON MONTREAL Message Board

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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL

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To: Chad Barrett who wrote (2376)	1/19/1999 11:45:00 AM
From: saul mikaliukas	Read Replies (1) of 2635

No Big Deal???? Chad let's read the press release again..... "Exploration Mirandor Inc. (MIQ-ME) is pleased to announce that it has entered into a private placement agreement for the issuance of 625,000 units to raise $150,000. Each unit will comprise one common share and one share purchase warrant. Each warrant may be exercised to purchase one common share at $0.32 for a period of 18 months. The funds will be used for the development and exploration of the company's projects." According to my calculations, sooner rather than later an additional 1,250,000 new shares will be floating at an average purchase price of 28 cents Canadian. Add theses shares to the already issued shares of 21,100.00 as of 1/31/98 or to the fully diluted shares as of 1/31/98 of 24,800.000, it is no small peanuts especially if you bought your shares at 50 cents or better. Another issue, what development or exploration project is the company pursuing outside of the Railroad project? You stated that this PP is better than stock options. The way I read this press release is that this is a sweetheart deal to the insiders because most of the company's explorational activities are being financed by Kinross and the only real expenditures the company currently has are operational ones....payroll, office etc. Now if the funds generated by this PP are mainly for the insiders salaries and they are the PP participants or their cronies doesn't that mean they get "FREE" shares of the company at the shareholder's expense? The only reason I raise these questions and issues is that Mirandor's problem has always been in not generating adequate news about what is going on at the Railroad project or their other "Projects" Ceratinly when Kinross got involved the news was further suppressed for whatever reason the boyz determined to suit their fancy. When you consider Mirandor and Brex the insiders have this project hook line and sinker. The only way we shareholders have a chance of recovering our initial investment or to make a small profit is at the mercy of the "BOYZ" and the further dilution of our investment is indicative of the company's dismal treatment of it's shareholders.

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