I have a few comments and questions..
(1) Have any new proposals been made by the Receiver Managers?
(2) Has CMEI completed their due diligence?
(3) At 5cent a share, these past few days of trading does not add up to much $$$$, but why the sudden interest?
(4) Is continuance of the company's business feasible?
(5) How long is the term of the Receiver Manager, and finally
(6) Is there hope?
Thoughts anybody?
Just wondering.
HART
=============================
from March 23, 1999 news link
=============================
Canadian Company Press Release
BYG 1999-03-23 (provided courtesy of BCE Emergis E-News Services.)
register to receive future releases by email from BCE Emergis E-News
Services
B.Y.G. NATURAL RESOURCES INC. - APPOINTMENT OF A RECEIVER-MANAGER
CARMACKS, YUKON TERRITORY--
B.Y.G. Natural Resources Inc. announced the appointment of a Receiver-Manager by the Chairman of the Company.
The main goal of the receivership is the return of the Company to
the management to allow for the continuance of the Company's business.
Therefore the receiver-manager is appointed to proceed with the
sale of BYG's interest in Trumpeter Yukon Gold Inc., to make a proposal to the secured and unsecured creditors of the Company
and to provide information to management and others to facilitate the Company's ongoing operation.
etc etc
===================================
from the February 2, 1999 news link
===================================
February 2, 1999
BYG NATURAL RESOURCES INC ("BYG-TY")
- Attracts News Participant That Will Allow For Fast
- Tracking of Refractory Ore Plant
B.Y.G. Natural Resources Inc. announced plans to sell its position in
Trumpeter Yukon Gold Inc. to CM Exploration International Ltd., a
private company owned by a group of consulting professionals
established in England, Niger, Congo, Ghana and Botswana.
The proposed sale is commensurate with BYG's focus on the Mt. Nansen
mine. The new group has the ability to fund further exploration in the
Wheaton River area and to examine the feasibility of and to
subsequently move forward with the construction and operation of a
pretreatment and processing plant for refractory ores in the Yukon.
BYG has the right to participate in the proposed plant which would be
available to process ores not only from both the Wheaton River and Mt.
Nansen areas but also from other refractory deposits in the Yukon.
Under the terms of the agreement CM Exploration International Ltd.
receives an option to purchase the 9,226,300 Class A and 4,000,000
Class B shares that B.Y.G. owns in Trumpeter Yukon Gold Inc., for a
cash payment of Can$1,750,000 and the assumption of the Can$1,118,000
debt owed by BYG to Trumpeter.
CMEI is presently carrying out due diligence including the compilation
of all data from the Wheaton River area.
Management of BYG believes that introducing a new group with the
financing and expertise to advance the refractory ore plans is in the
best long term interests of both B.Y.G. Natural Resources Inc. and
Trumpeter Yukon Gold Inc.
etc etc |
