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Gold/Mining/Energy : ASIA PACIFIC RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: ROBROY who wrote (1380)	6/28/2000 12:22:00 PM
From: the Chief	Respond to of 1437

The principal amount of the debentures is $24.46-million (U.S.), and the estimated sum due to debenture holders on the original maturity date (Aug. 13, 2000) would have been $31.749-million. At the new maturity date (Oct. 13, 2001), the estimated sum due to debenture holders will be $37.083-million. Borrowed 24.46 million US, 3 years 2 months later the payment is $37.083 million. That is approximately $13 million in interest. Is that a good deal? I don't think so especially because they also stated: debenture holders will be entitled to convert the debt due at any time for common shares in Asia Pacific Resources Ltd. at a conversion price of $2.32 (U.S.) (or $3.43 (Canadian) at the current exchange rate) per share. Which is a decrease from $4.00 arranged with the initial financing. So they receive a 15% reduction in the exercise price and get $5.33 million in interest for a 14 month extension. Thats 17% return on 14 months or 14.57% per year....that plus the 15% reduction on the share value if exercised or 16 million shares makes the metro purchase extremely costly based on the initial purchase value. But, they are just trying to stay alive at this point. I await the first signal of this project actually going ahead, which will be the announcment of Wright and group, "laying options out for themselves so thick they'll make you nauseous"! the Chief

To: ROBROY who wrote (1380)	6/30/2000 1:49:49 PM
From: the Chief	Read Replies (1) \| Respond to of 1437

Asia Pacific's Somboon EIA accepted Asia Pacific Resources Ltd APQ Shares issued 54,399,705 2000-06-29 close $1.54 Friday Jun 30 2000 Mr. Gerald Wright reports The Thai office of environmental planning and policy (OEPP), ministry of science and technology, has accepted the environmental impact assessment (EIA) for the Somboon project, as filed, subject to a survey of the surface area for plant and storage facilities and certification of the underground mining layout by Thai engineers. Acceptance of the project EIA is a very significant step in the overall project permitting process and is required prior to formal application for project mining licences (Prathanabats) in Thailand. In addition, the June 13, 2000, notification in the Government Gazette, by the ministry of industry, confirmed the special rights granted under the October, 1984, potash concession agreement between the ministry of industry, the department of mineral resources (DMR), and APPC. By virtue of the Minerals Act, BE2510, the minister of industry granted special permission to APPC for filing applications for Special Atchayabats (special exploration licences) and Prathanabats, in respect of an area of 846 square kilometres, including both the Somboon and Udon potash deposits, within the original concession area. This is a right exclusive to APPC and the notification formally allows APPC to file the required documentation to obtain the long-term mining licences for the Somboon project. As required, APPC has formally notified the government of its intention to obtain the mining licences and the appropriate documentation is now under preparation to process the licences. Asia Pacific acknowledges the support and assistance received from OEPP, DMR and the ministry of industry as it completes the permitting requirements for the project. The Somboon project is located near Udon Thani, Thailand, about 500 kilometres from Bangkok. The proposed potash mine will have a capacity of two million tonnes of potassium chloride per year. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com