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Gold/Mining/Energy : Cross Lake Minerals CRN -- Ignore unavailable to you. Want to Upgrade?


To: Ed Pakstas who wrote (805)12/11/1997 11:24:00 AM
From: Mr Metals  Read Replies (1) | Respond to of 3650
 
Another scam in the works????. This story sounds to familiar.

Inmet Mining Corp -

Post says Troilus gold may be inflated

Inmet Mining Corp IMNShares issued 1034000001997-12-10 close $6.15Thursday Dec 11 1997The Financial Post reports in its Thursday edition that Inmet Mining and the would-be buyer of its Troilus gold mine in Quebec are in a dispute over how rich the mine's ore really is. Reporter Paul Bagnell notes that Homestake Mining has told Inmet a $165 million deal to buy the mine is off, according to Inmet a statement released after the close of business on Wednesday. San Francisco-based Homestake also says its testing of rock samples from the Troilus orebody shows less gold than figures provided by Inmet. Inmet says Troilus contains 2.2 million ounces of "proven and probable" gold reserves. Strathcona Mineral Services, also of Toronto, has been hired to investigate the discrepancy. Strathcona achieved fame earlier this year when it declared the Borneo gold project of Bre-X Minerals to be a fraud. Inmet considers the purchase agreement, reached October 29 and to have taken effect December 16, to still be in force. Inmet is going to pursue all its legal rights under the agreement, according to chief executive Bill James. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

Mr Metals