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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (211)	4/13/2000 12:11:00 PM
From: Just G	Read Replies (1) \| Respond to of 349

Another confusing release by Mmin. They continue to mention Impala, to date nothing has been done, the option agreement will be a year old this August, and Mmin made clear no further dilution, but yet here it is. Mustang Minerals Corp MMIN Shares issued 10,667,948 Apr 12 close $1.60 Thu 13 Apr 2000 News Release An anonymous director reports Mustang Minerals has entered into an agreement with Loewen, Ondaatje, McCutcheon Limited (LOM) as the lead agent to raise up to $1.8-million by way of a private placement of 1.5 million special warrants at a price of $1.20 per special warrant on a best efforts basis. Each special warrant will be exchangeable for a unit consisting of one common share in the capital of the company and one non-transferable share purchase warrant. One such warrant will entitle the holder thereof to purchase one additional common share at a price of $1.35 for the first year and $1.50 for a further six months thereafter. These transactions are subject to shareholder and regulatory approval. Proceeds from the private placement will be used by Mustang to finance further exploration and development of its East Bull Lake platinum group metals (PGM) property in Northern Ontario with the balance to augment the company's working capital. Mustang is an exploration company focused on platinum group metals. In addition to its 100-per-cent-owned East Bull Lake property the company has a joint venture with Impala Platinum Holdings Limited (Implats) covering over 23,000 acres in the River Valley intrusion. Implats can earn a 60-per-cent interest in the River Valley property by making cash payments of $255,000 and work expenditures totalling $6.0-million. Implats, based in Johannesburg, South Africa, is the world's second largest primary producer of platinum group metals (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com