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

To: 1st.mate who wrote (3617)	12/15/1999 1:59:00 PM
From: Diamond Daze	Read Replies (2) \| Respond to of 4884

This has got me very perplexed....PVF/CNB news release. <<Under the terms of the Agreement, Paramount will spend U.S. $1 million to earn a 50% interest in the Rio do Sono Project. Once Paramount has earned a 50% interest, the joint venture will fund ongoing costs on a pro-rata basis. The joint venture has engaged the services of Baines & Co. to be the Project Manager. Baines & Co. have successfully run alluvial diamond operations in Sierra Leon, Angola and in Central Africa. Upon recovery of alluvial diamonds from the Rio do Sono Project, net operating profits will be shared initially as to 45% Canabrava, 45% Paramount and 10% Baines & Co. When Paramount receives the equivalent of U.S. $1 million from its 45% share of net operating profits, the distribution will thereafter be 50% Canabrava, 40% Paramount and 10% Baines & Co. Canabrava will be the operator and have the right to market the diamonds.>> Well we are told that this new property is a much higher grade then the Do Sono what in gods name are we doing vending parts of it off for less money than we paid CNB ? I think this issue needs to be addressed before any thing else comes down.....DD