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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (20304)	9/13/2003 8:11:05 AM
From: peter snowdon	Read Replies (3) \| Respond to of 39344

Just for fun, someone might want to sniff around on this one. having nothing else to do this a.m....:-) mill city was the subject of a reverse take over in nov 2002 by the present directors. the 'shell' came with the yamba lake interest. the new directors began by trying to go into a JV with ANX.v on their nevada properties; but then - mysteriously - announced they were acquiring 100% of 6 other nevada properties in june this year, and a few days later dropped the ANX option. in july they added another nevada property, and simultaneously announced that one director resigned, and a guy called carl pescio joined the board. the AIF reveals that pescio was the vendor of the nevada properties. more info on the latest of these properties can be found here: pescio had previously leased it to homestake, among others: sudburycontact.com in nov 02, atna entered into an option agreement with pescio for two nevada properties. at about the same time, frontier pacific leased the dixie creek property from pescio and his wife. so the scenario seems to be that pescio has adopted MC as his main vehicle: one might therefore presume that the properties in question are the most geologically promising, or at least the most open to promotion. however, if the buying has been going on all year, then it may not be pescio. in any case, he already holds 850,000 shares, which is around 5% of the FD outstanding. at what level will he - or anyone else - have to show his hand? FWIW: peter