To: goldsheet who wrote (7354 ) 8/22/1999 9:29:00 PM From: d:oug Read Replies (1) | Respond to of 81272
<<the desert dirts, one area where I could not keep up>> <<not much money finding new discoveries, if they exist>> Bob, would US $30 million represent much money ? But then its still only talk, no money yet actually delivered to the bank account where it can be used by a desert dirt mining company. Could be a pump & dump scheme created by the mining company. Could be yet another buying of the NY City Brooklyn Bridge. Could be for real, and if so, what impact if successful would it have on established gold mine companies if this desert dirt gold is large in quanity and low cost in extraction ? Also, seems like other precious metals might also be present. 2. FUNDING UPDATE OTCBB SYMBOL: ******* ******* Corporation on May 12, 1999 announced that it was entering into a $30 million funding agreement, with closing and initial draw of $10 million scheduled for July 1, 1999. The funding was secured by the following assets: (a) 6,000,000 Troy ounces gold equivalent open-pit mineable resources on the four ******* claims; and, (b) a pledge of 50 million common shares of ******* Corporation. On July 8, 1999, ******* announced that the funding source had not met the conditions to which it had agreed, and that ******* agreed to grant a 45-day extension for the source to meet the conditions. The extension has expired. Talks with the funding source reveal they are confident they can complete their commitment. The entities which pledged the assets and stock remain willing to renew their pledges if this funding materializes. ******* is also pursuing other potential funding sources and a possible joint venture with a producing mining company. Safe Harbor Statement.... Thanks for the following link to production.goldsheet.simplenet.com Doug