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

To: Diamond Daze who wrote (3721)	1/7/2000 5:28:00 PM
From: Flea	Respond to of 4884

Massive system problems everywhere today. Don't make too much of it...at least the trade(s) finally went through CSW. I had 2 trades yesterday that still haven't shown up but have been confirmed four times by the brokerage. Have a good weekend and don't swallow the Y2K bug floating in your beer.

To: Diamond Daze who wrote (3721)	1/7/2000 6:11:00 PM
From: Flea	Respond to of 4884

Paramount increases Brazilian holdings; appointment Paramount Ventures & Finance Inc PVF Shares issued 27,591,374 2000-01-06 close $0.67 Friday Jan 7 2000 Mr. Paul Conroy reports In Brazil, Paramount Ventures & Finance has acquired the remaining 20-per-cent interest in its 80 per cent owned mineral claims, totalling 215,000 hectares located in the state of Mato Grosso. The company now controls a 100-per-cent interest in the mineral claims, which are prospective for alluvial gold and diamond exploration. As a result of this acquisition Paramount and Paramax Resources have agreed to amend the letter agreement on the existing joint venture 10,000 hectare mineral claim. (See Stockwatch Nov. 13, 1999 for original announcement.) Under the terms of the revised letter agreement, Paramax now has the right to earn up to a 50-per-cent interest in the claim block by making cumulative expenditures of $300,000 (U.S.) over a period of 12 months. Paramax will earn a 20-per-cent interest in the claim block upon expenditures of $125,000 (U.S.) and an additional 30-per-cent interest upon expenditures of an additional $175,000 (U.S.). Paramount will continue to act as operator of the joint venture project. The ground operations are proceeding as planned and alluvial gravels are being extracted from three separate sites on the property. The gravel material from two of the sites is being stockpiled for processing at the central processing plant. Material from each site will be processed separately to ensure accurate documentation is maintained of grade and stone quality from each area. Installation and testing of the central processing plant is near completion and is expected to be in full operation by the middle of January. Heavy rains in late December resulted in minor delays with the completion of the plant, The plant has an initial capacity in excess of 300 cubic metres a day and has been designed for future expansion. The plant has also been modified to incorporate a separate circuit for gold recovery from the alluvial gravels. Gold, ranging from fine flakes to small nuggets, has historically been recovered from the gravels as a byproduct of the diamond recovery operations. It is expected that gold recovery will significantly increase the overall project economics. The bulk testing of the alluvial gravel material from the original site has continued to recover approximately 0.5 carats per cubic metre. The largest diamond recovered to date is a 4.5 carat gem quality stone. Ed Sweeney has joined the board of directors of Paramount Ventures & Finance. Mr. Sweeney has been involved in the Vancouver investment and brokerage industry for the past 12 years. Paramount Ventures has granted, pursuant to its stock option plan, 100,000 incentive stock options at an exercise price of 45 cents, expiring Dec. 31, 2004. Paramount Ventures owns 55 per cent of the issued shares of Paramax Resources Ltd. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com