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Gold/Mining/Energy : MIRAMAR MINING (MNG) -- Ignore unavailable to you. Want to Upgrade?

To: SwampDogg who wrote (310)	12/14/1999 9:34:00 PM
From: John Dally	Read Replies (1) \| Respond to of 457

Hi fuddle, Finally . . . >>Miramar has agreed to acquire the Giant mineral assets, inventories and plant and equipment from DIAND for a nominal sum plus a contribution of $425,000 to the Giant Mine Reclamation Security Trust. The acquisition includes a substantial amount of inventory at Giant that will be used by Miramar at its operations. ``This acquisition will allow us to increase our reserves and resources and boost production at the combined operations to around 130,000 oz per year, while reducing cash operating costs to under US$260 per oz. This acquisition also fulfills the new Miramar management's commitment to maximize the value of our existing assets(+),' said Mr. Walsh. As part of an agreement with the City of Yellowknife and the Government of the Northwest Territories (GNWT), Miramar will sell part of the Giant property to the City of Yellowknife and DIAND and the GNWT will provide Miramar with funding for exploration of the Giant property. Miramar will provide matching funding to a maximum of $500,000 per year for exploration at the Giant and Con properties.<< biz.yahoo.com