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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: DueDiligence who wrote (688)	4/8/2000 9:48:00 AM
From: Enigma	Read Replies (1) \| Respond to of 1321

EDIT "The terms of the option agreement that IWA has with MSQ are a bit fuzzy" Where are the areas of fuzziness - or is this a fuzzy statement on your part in spamming MSQ, or shorting IWA? And isn't the agreement a royalty, not an option agreement?

To: DueDiligence who wrote (688)	4/8/2000 11:17:00 AM
From: bully	Read Replies (1) \| Respond to of 1321

The terms of the option agreement that IWA has with MSQ are a bit fuzzy. "Fuzzy" ? I have a position in MSQ for some of the reasons you states and for other reasons as well! Happy investing "BULLY"! Mosquito Consolidated Gold Mines - Wayside options properties from Mosquito Mosquito Consolidated Gold Mines MSQ Shares issued 13,254,009 1998-12-14 close $0.14 Wednesday Dec 16 1998 See International Wayside Gold Mines Ltd (IWA) News Release Mr. J. Frank Callaghan and Dr. William Malone report Mosquito Consolidated Gold Mines and Wayside Gold Mines have agreed that Wayside will have an option to purchase the remaining 50 per cent of the Cariboo gold quartz mine, 100 per cent of the Island Mountain mine and 100 per cent of the Mosquito Creek mine from Mosquito. Mosquito hereby grants an option to Wayside to purchase the above-noted interest in the properties, subject only to a net smelter royalty, in favour of Mosquito, of 3 per cent of net revenues derived from the production of minerals from the properties. Mosquito grants Wayside the option to purchase the net smelter royalty for $4,200,000 (U.S.), such option to be exercised within 12 months of completion of a feasibility study on the properties. In consideration of Mosquito granting the option to purchase the properties, Wayside shall pay $100,000 per year option payments for up to five years to Mosquito to the year Dec. 31, 2002. Wayside can exercise its option to purchase the properties at any time; the purchase price is $3,500,000 (Canadian). In the event Wayside should maintain its option to Dec. 31, 2002 then Wayside will have the option to pay $3,500,000 by Dec. 31, 2003. $10,000 shall be payable upon the signing of the letter agreement (paid). $10,000 shall be payable on or before Dec. 31, 1998. $80,000 shall be payable on or before Jan. 31, 1999. $100,000 shall be payable on or before Dec. 31, 1999. $100,000 shall be payable on or before Dec. 31, 2000. $100,000 shall be payable on or before Dec. 31, 2001. $100,000 shall be payable on or before Dec. 31, 2002. $3,500,000 shall be payable on or before Dec. 31, 2003. Upon completion of the purchase payment of $3,500,000 by Wayside, Mosquito shall transfer title to the properties to Wayside, free and clear of any liens, charges or other encumbrances. Both Mosquito and Wayside will co-operate with each other and will use its best efforts to have a formal property option agreement to incorporate the terms of the letter agreement, incorporating all standard terms normally included in property option agreements of this sort drafted and executed, within 60 days of the date of the agreement. Wayside is responsible for satisfying the outstanding 10 per cent net profits interest in relation to the property presently held by Cameron J. McFeely, et al. Mosquito grants Wayside an option to purchase all the equipment on the properties owned by Mosquito as of the date of the agreement. Mosquito will retain all placer rights to the properties. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com