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Gold/Mining/Energy : Paramount Ventures & Finance -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Oil who wrote (3470)	11/30/1999 9:12:00 PM
From: Lazarus Long	Read Replies (1) \| Respond to of 4884

Ray, It's done. EM had till the 25th, weren't able to complete and are out. PVF has 80% of the 215,000 hectares and the property owner has 20%. Whether EM is still able to complete their deal with the property owner is between those 2 parties and has nothing to do with PXM and PVF. Out of the 215,000 hectares, 10,000 hectares are being put into production with PXM having the right to earn up to 40% of this portion, the property owner retains 20% which increases PVF's position up to 40% from 10%. I feel sorry for the guys that made the jump but I hold PVF and PXM and I am very happy with how it's worked out. Lazarus