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Gold/Mining/Energy : Aurora Platinum Corp, ARP -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Robbins who wrote (33)	1/9/2001 10:22:51 AM
From: Just G	Read Replies (1) \| Respond to of 157

Aurora strikes data-sharing deal with Inco Inco Ltd N Shares issued 181,702,011 Jan 8 close $23.94 Tue 9 Jan 2001 News Release See Aurora Platinum Corp (ARP) News Release Mr. George Plewes reports Aurora Platinum has entered into an agreement with Inco Ltd., whereby Aurora will acquire from Inco the use of more than 54,000 line kilometres of proprietary analog electromagnetic and magnetic airborne survey data over specific areas in Ontario. The data package will also include all of Inco's ground follow-up geophysical, geological and geochemical data including drilling records within the project area of interest. The company and Inco have begun to digitize the airborne data so that it can be processed using modern techniques. Aurora, with Inco's technical assistance, will use the reprocessed data to identify nickel, copper and platinum group element targets for ground acquisition and exploration. Under the terms of the agreement with Inco, Aurora can earn the right to permanently use and retain the data by spending $1.5-million over four years on followup of geophysical targets. Any properties acquired by Aurora within the area of interest will be subject to a royalty to Inco upon commencement of commercial production capped at $2.5-million. Inco will have the right to purchase any Ni-Cu-PGM products at normal commercial terms. Aurora will be the operator of the exploration program. Inco will have the right to acquire 50 per cent of Aurora's interest in any mineral property by financing two times Aurora's property expenditures including acquisition, exploration and development costs. Either party will then have the option to increase its equity in any joint-ventured property by 10 per cent by financing 100 per cent of a feasibility study and by a further 10 per cent by providing all of the funds related to placing a deposit into commercial production. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com