Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Golden Hemlock(GHE) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Moss who wrote (493)	10/22/1997 6:58:00 PM
From: RMF	Respond to of 909

Trenching from Purissima will give some good news to Hemlock faithful. Maybe some nice drill intersections too. Which major gets our favors? Got that last right out of a victorian novel, but in this case it fits.

To: Frank Moss who wrote (493)	10/22/1997 7:42:00 PM
From: Steve Johnston	Respond to of 909

I hope you are right about the upcoming news, Frank. We need something. GHE is looking mighty ugly right now. I am not sure I agree with you that the junior gold market has turned around yet, at least the VSE gold index doesn't say so. At best, I think it has bottomed out. Having said all of this I bought up more GHE today. Regards.

To: Frank Moss who wrote (493)	10/23/1997 12:17:00 AM
From: CJG	Read Replies (2) \| Respond to of 909

None of the people that work on the VSE that I know can uderstand why it is so low. I hope you are right.

To: Frank Moss who wrote (493)	10/23/1997 3:35:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 909

Here is the news: 23 October 1997 FOR IMMEDIATE RELEASE Loan Agreements The Company has entered into agreements with two directors of the Company for loans totalling $385,000. The loans have a 90 day term and bear interest at 10 per cent The agreements contain a provision for repayment in cash, or, at the lenders' option, in shares of the Company. If paid in shares, the shares will be issued at the price of $0.55. If the entire face value of the loans was to be repaid in shares, 700,000 shares would be issued. In accordance with the policies of the Vancouver Stock Exchange, as additional consideration for the loans, the lenders will be issued non-transferable warrants for the purchase of 280,000 shares for a one year term, exercisable at the price of $0.55 per share. Any shares issuable on conversion of the loan or on exercise of the warrants will be subject to a one year hold period from the agreement date. These agreements are subject to regulatory approval. The loan proceeds will be used primarily to fund drilling and exploration costs on the Company's gold exploration project at San Jose de Gracia, Sinaloa State, Mexico. Shares for Debt Agreements The Company has entered into agreements with two major creditors of its Mexican subsidiary to settle debts totalling $US558,496 (translated as $Cdn775,655) by the issue of a total of 1,388,500 shares. 918,100 shares are to be issued at the price of $0.563 and will not be subject to a hold period when issued. 470,400 shares are to be issued at the price of $0.55 and will be subject to hold period of one year from the dates incurred, which are between June 30, 1997 and October 14, 1997. These shares for debt agreements are subject to regulatory approval. Project Finance Further to the news release of October 2, 1997, the Company advises that certain major mining companies continue to show interest in participating in the ongoing development of the San Jose de Gracia gold project. Technical and corporate due diligence is ongoing. No agreements have been reached to date. Material developments will be advised as they arise. On Behalf of the Board "Ian D. Brown" Ian D. Brown, Secretary -30-