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Gold/Mining/Energy : A bottom-fishing Derby for resource stocks -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (11)	1/26/1998 8:43:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 17

Hi Roebear, I survived too:) I just came across this item. The stock was up 4c to 12c on huge volume. Ateba Mines Inc - Further improvements to patented environmental process; warrants extended Ateba Mines Inc ABMShares issued 558676481998-01-23 close $0.075Monday Jan 26 1998Mr A.C.A. Howe reports The company has made further improvements in its patented environmental process. For the last two years the company has pursued an extensive testing program of its proprietary process for the reclamation of phosphate rock and clay from the waste lagoons of the phosphate mines of North America. In the coming months the company will be presenting the results of its test work to major phosphate rock producers and environmental agencies, with the intention of forming one or more business arrangements. The company has conducted its trial work with one Florida producer and initial talks are in progress with that company that may lead to a joint venture. Regardless of whether these talks are successfully concluded, the company intends to aggressively advertise this new environmentally-attractive business world-wide. Contemporaneously with the above research and development work, Ateba has entered into negotiations with several mining companies in the Florida phosphate industry and in the African diamond and gold mining industries. All these industries share a common problem, that of clay interfering with their recovery process. There are approximately 500 million short tons of mine waste material carrying phosphate in Florida and the Carolinas. The phosphate rock and clay waste lagoons, which are predominantly in Florida, are of great concern to the environmental agencies which monitor pollution. The Ateba process releases the phosphate from the clay which allows the economic recovery of phosphates. The phosphate-free clay can then be used to produce cement. Once the whole waste deposit has been treated, the environmentally-safe land can be developed as income-producing real estate. The phosphate producer can then benefit from a profitable secondary operation that also restores the environment. Therefore, Ateba's process will be highly attractive to both environmental agencies and phosphate producers alike. Ateba is in the process of filing further patent applications in addition to its original basic process for treating the Florida clays. The areas covered will be: Treatment of clay suspensions containing precious metals and/or precious stones; A patent application that uses the Florida clays and other waste materials to make a cement which will be used to solidify the treated clays after phosphate removal; Clay control in mineral sand operations. The board of Ateba believes that environmental restoration and mining exploration should be two separate businesses. It is therefore the company's intention to form a subsidiary for the environmental operation as soon as this becomes viable. The ASE has conditionally approved the extension of the outstanding 12,761,775 warrants to September 1 1998. This extension will allow the current warrant holders sufficient time to assess the new developments of the company. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals