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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC) -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (395)	1/17/2000 6:07:00 PM
From: zebity	Respond to of 587

Newmont exercise warrant for $500,000 @0.40 in Barramundi Gold. Newmont has exercised a warrant on Barramundi Gold shares at a very considerable market premium. See the following news snippet for details. BAM Longline property is looking like it has real potential (with ongoing investment by Newmont providing evidence of this) >>> News <<< Newmont Commits A Further $500,000 To Barramundi Gold's Yukon Longline Gold Project Joint Venture To Continue VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 14, 2000-- (CDNX:BAM - news) Mr. Ewan Stoddart reports that Newmont Exploration of Canada Limited, a wholly owned subsidiary of international mining company, Newmont Mining Corporation (NYSE:NEM - news; ``Newmont'), has exercised Share Purchase Warrants to acquire 1.25 Million Flow-Through Shares in Barramundi Gold Ltd. (BAM-CDNX), at $0.40 a share for gross proceeds of C$500,000. The warrants were exercised by Newmont three months ahead of the exercise deadline at a considerable premium to Barramundi's current share price. The Directors of Barramundi are encouraged by Newmont's aggressive decision in exercising the warrants earlier than the March 31, 2000 deadline. The Directors view this decision as a vote of confidence in Barramundi and its Longline Project, which is located in the Yukon's Tintina Gold Belt, approximately 300 km south east of the 5.2 million ounce Pogo Deposit in Alaska. The funds from the exercise of the Warrants will be allocated to a field program at the Longline Property that will commence in mid-Spring, 2000. Planning for the field season and construction of a winter road through Alaska is well advanced. Newmont will be the operator of the project using Newmont and Barramundi staff. On December 13, 1999, Newmont and Barramundi executed final documentation to finalise Newmonts' joint venture rights over the Longline Property, the terms of which were outlined in a Press Release by Barramundi on August 31, 1999, and approved at Barramundi's Extraordinary General Meeting on October 29, 1999. Barramundi has received the first and second instalments from Newmont of the $10,000 monthly payments for Barramundi's office and administrative costs as required under the joint venture agreement. These monthly payments may continue for up to 2 years. The Canadian Venture Capital Exchange has neither approved or disapproved the contents of this release. >>> End of News <<<