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Gold/Mining/Energy : Vantage Enterprises Inc - VEC on Vancouver -- Ignore unavailable to you. Want to Upgrade?

To: Sandie who wrote (1402)	2/6/1998 2:20:00 PM
From: Frank Sauer	Read Replies (1) \| Respond to of 1476

Zambian amethyst crystals dispatched to China Vantage Enterprises Corp VEC Shares issued 3,690,175 Feb 5 close $1.31 Thu 5 Feb 98 News Release Mr Rudolf Muller reports Vantage has dispatched 20 tons of amethyst crystals to Asian bead manufacturers from its Zambian mine production. The shipment is to fulfill part of the outstanding orders booked in Asia for beading grade amethyst as announced in Stockwatch January 12 1998. Vantage has established full scale mining operations at Mbwiko mine, owned by Reserved Mineral Corporation as per its contractual agreement. Further, the RMC contract has been extended into its second term. The quality of amethyst at Mbwiko mine has significantly improved with increased depth, a general phenomenon in the Kalomo amethyst belt. The entire production is being graded into several categories to fulfill the orders booked in Asia. Vantage has entered into a long term mining agreement with Konkule Mining (KKML), a Zambian private company holding amethyst mining license ML 54 for high grade facet quality amethyst. The property is about 24km south east of Krystal mine camp. The essential terms of this agreement are: Vantage will undertake mining operations for 18 months with subsequent renewal for every three years. The production from the mine will be shared between the two companies; 60% by Vantage and the remaining 40% by KKML. Vantage will bear all operational costs and there will be no cash payment to be made by Vantage. The initial prospecting and quality evaluation studies conducted by Vantage indicated that facet quality rough amethyst recovered from KKML is suitable for producing superfine (AAA) and fine (AA) quality amethyst cut stones. The fine quality amethyst produced from KKML shall be used for fulfilling orders of facet quality rough amethyst in Asia and North America. The monthly production targets and operational procedures are being worked out. Vantage has negotiated a private placement of up to 200,000 at $1.10, each unit consisting of one share and one warrant to purchase an additional share for two years at $1.10 in the first year and $1.27 in the second. The company will use the funds for its continuing operations in Krystal Mining and for working capital. There will be finder's fees payable. Management will be attending the International Gem Trade Show at Tucson, Arizona during February 6 to 14, for marketing and promoting its cut and polished stones of amethyst, aquamarine, tourmaline, citrine and garnet to international jewelry manufacturers, dealers and wholesalers. These cut stones were produced by Vantage's lapidary factory in India. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com