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Gold/Mining/Energy : Canmine resources -- Ignore unavailable to you. Want to Upgrade?

To: Marshhawk who wrote (1868)	9/12/1999 11:04:00 AM
From: dave brown	Read Replies (1) \| Respond to of 2769

Question regarding Cobatec deal: As of March 31,1998 Canmine's cash position was $567,328. We can assume much if not all of this cash has been spent by now. The only major financing since March 98 was the $1.2 million flow through. So, how did Canmine manage to purchase Cobatec for $1.5 million cash and future consideration?? My calculation show they don't have liquid cash for this type of purchase nor would they have operating capital. What am I missing here? Anything in the new financials? Please post them!