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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: Harry K who wrote (15)3/11/1997 3:48:00 PM
From: Donald McRobb   of 1348
 
And the latest!!!Subject:
Stockwatch: United Keno Hill Mines Ltd - News Release
Date:
Tue, 11 Mar 1997 09:04:38 -0800
From:
newsout@canada-stockwatch.com
To:
dmcrobb@kermode.net

President resigns; cash flow shortage

United Keno Hill Mines Ltd UKH
Shares issued 10,296,280 Mar 10 close $1.25
Tue 11 Mar 97 News Release
Mr Stephen Powell reports
Frederick J. Sveinson has resigned as president and chief operating officer
to take a senior executive position with another mining company. Mr
Sveinson has agreed to remain with the company for a period of time to
assist the company in securing a suitable successor.
During the last six months the company has relied heavily on its major
shareholder for working capital. However, the major shareholder has advised
that it is currently not in a position to continue to support the company
financially. As a result, the company is and will be experiencing an acute
cash flow shortage. The company is considering all options available to it
in the circumstances and the company and its major shareholder are in
negotiations to secure the working capital to enable it to continue to
maintain its silver-lead-zinc properties at Elsa, Yukon Territory.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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