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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC) -- Ignore unavailable to you. Want to Upgrade?

To: Mr.Staya who wrote (87)	5/2/1998 5:53:00 PM
From: John Fairchild	Read Replies (2) \| Respond to of 397

In this weeks Northern Miner. May 4-10 Analysts watch Abacus in Argentina Russ Cranswick, analyst with Research Capital, is keeping a close eye on the activities of Abacus Minerals (AMC-V) at La Manchuria, a gold-silver property in Argentina's Santa Cruz province. The current drill program is targeting near-surface, bulk-tonnage stockwork epithermal mineralization, as well as deeper, higher-grade epithermal vein mineralization. The project is in a region that is attracting attention for its silver-gold potential. Other juniors working nearby are Yamana Resources and Minera Andes, both of which recently reported discoveries. Abacus is exploring its properties under the terms of an option agreement with Barrick Gold (ABX-T). It can acquire all six properties (subject to a 50% back-in or a 3% net smelter return royalty in favour of Barrick) by spending US$2.7 million over four years. Cranswick rates Abacus as a "speculative buy." Assay results from drilling are expected shortly. The company is also exploring the Niblack massive sulphide project in Alaska. ------------------------------------------------------------------------------------------------------------ Obviously this write up was already in press before the NR of drill results were issued on Wednesday. ------------------------------------------------------------------------------------------------------------ $3.0-million (U.S.) convertible debenture financing Abacus Minerals Corporation AMC Shares issued 21590405 1998-05-01 close $0.64 Friday May 1 1998 Mr. Steve Todoruk reports Further to news in Stockwatch April 30, 1998, the agreement between the company and First American Financial Group to seek, on a best effort basis, a $3.0-million (U.S.) convertible debenture financing is subject to a firm financing commitment on or before May 31, 1998 after which date the agreement will expire. The terms of the financing will be set at the time that the commitment is made. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com ------------------------------------------------------------------------------------------------------------ I think you are right Ric regarding setting financing at a higher price. Looks to me like they will be in a real hurry to come up with more good holes to get a higher financing price. Glad I bought more on Friday. John :-)