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Gold/Mining/Energy : Champion Resources - CHL.vse -- Ignore unavailable to you. Want to Upgrade?

To: DAVID BENNETT who wrote (67)	11/1/1999 3:41:00 PM
From: rdww	Read Replies (1) \| Respond to of 176

another good NR indeed - but I thought that they had already said that they could do 1.5MM when they announced that they had an offtake contract w/ CIBC for 750K - which was supposed to be half of production. Maybe that wasn't clear enough for some. Management was supposed to be in FLA last week at a phosphate yak talking about CHL. Be nice to see some follow thru in the mkt from that trip.

To: DAVID BENNETT who wrote (67)	11/8/1999 12:01:00 PM
From: rdww	Read Replies (1) \| Respond to of 176

Another NR saying that they have been approved for even more $$ for the mine financing! Still looking good and still looking for someone to step up and buythis one out! Champion increases Farim financing Champion Resources Inc CHL Shares issued 24,184,440 Nov 5 close $1.10 Mon 8 Nov 99 News Release Mr. Michael McInnis reports Champion Resources has significantly advanced the Farim phosphate project in Guinea Bissau, West Africa. Farim is 100 per cent owned by Champion Industrial Minerals Inc., a wholly owned subsidiary of the company. As previously announced, the planned production rate at Farim has been doubled to 1.5 million tonnes of phosphate rock concentrate per year. Accordingly, the proposed financing has been increased to $112-million (U.S.) from $84-million (U.S.). The increased capital is predominantly associated with capacity increases in the processing facility and material handling areas of the plant. The $112-million (U.S.) covers 100 per cent of the estimated capital costs to put Farim into production at the increased rate. The company has recently signed key agreements with three international groups. Bateman Projects Ltd. will provide engineering, procurement and construction management for the Farim processing plant and ancillary infrastructure. Met-Chem Canada Inc. and Time Mining (Pty) have formed a joint venture and will operate the Farim mine and processing plant. Grasim Industries Ltd. has signed a memorandum of understanding for the purchase of 750,000 tonnes per year of Farim phosphate rock concentrate for five years. Champion continues to target first quarter 2000 for commencement of the design and construction stage of the project. Production startup is forecast to occur in the third quarter of 2001. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com