Here's a quarterly report from APG
FORM 61
QUARTERLY REPORT
Incorporated as part of : _________ Schedule A
____X____ Schedule B & C
ISSUER DETAILS
NAME OF ISSUER: ALLIANCE PACIFIC GOLD CORP.
ISSUER ADDRESS: #1950 - 400 BURRARD ST.
ISSUER TELEPHONE NUMBER: (604) 681.2393
CONTACT PERSON: MICHELE PILLON
CONTACT POSITION: ACCOUNTANT
CONTACT TELEPHONE NUMBER: (604) 681-2393
FOR QUARTER ENDED: MARCH 31, 1998
DATE OF REPORT: JUNE 1, 1998
CERTIFICATE
THE SCHEDULE(S) REQUIRED TO COMPLETE THIS QUARTERLY REPORT ARE ATTACHED AND THE DISCLOSURE CONTAINED THEREIN HAS BEEN APPROVED BY THE BOARD OF DIRECTORS. A COPY OF THIS QUARTERLY REPORT WILL BE PROVIDED TO ANY SHAREHOLDER WHO REQUESTS IT. PLEASE NOTE THIS FORM IS INCORPORATED AS PART OF BOTH THE REQUIRED FILING OF SCHEDULE A AND SCHEDULES B & C.
BRIAN A. LUECK BRIAN A. LUECK JUNE 1/98
Name of Director Sign (typed) Date Signed
COLIN JOHNSON COLIN JOHNSON JUNE 1/98
Name of Director Sign (typed) Date Signed
ALLIANCE PACIFIC GOLD CORP.
QUARTERLY REPORT - SCHEDULE B
MARCH 31, 1998
1. FOR THE NINE-MONTH PERIOD ENDED MARCH 31, 1998
Breakdown of resource property expenditures:
Balance, beginning of period $8,208,112
Deferred exploration expenditures 854,297
Property acquisition costs 281,780
Balance, end of period $9,344,189
Breakdown of administrative expenditures - Office and general expenditures includes $22,000 in finder's fees paid for the various private placements issued by the company, also included is approximately $25,000 paid for the rental of office space and approximately $45,000 for general office such as, printing, drafting and mapping, secretarial services, office supplies, bank charges, courier, etc.
Related party transactions - Included in accounts receivable is $164,062 in exploration expenditures advanced to an affiliated company. Accounts receivable - other includes amounts due from affiliated companies.
2. FOR THE QUARTER ENDED MARCH 31, 1998
(a) Shares issued during the period:
Number Price Total
Private Placement 813,008 $0.369 $ 300,000
Private Placement 1,000,000 $0.500 $ 500,000
Private Placement 1,785,715 $0.560 $1,000,000
3,598,723 $1,800,000
(b) Options granted during the period: The company re-priced 1,200,000 options from $0.75 to $0.33.
Number Price Expiry Date
295,000 $0.35 Feb. 5, 2003
3. AS AT MARCH 31, 1998:
(a) Share capital - Authorized 100,000,000 - Issued: 16,101,350
(b) Summary of options:
Number Price Expiry
100,000 $1.55 January 23, 1998
860,000 $1.85 May 6, 1999
1,200,000 $0.75 September 3, 1999
295,000 $0.35 February 5, 2003
Summary of warrants:
Number Price Expiry
825,000 $2.25 May 9, 1999
379,225 $4.75 June 23, 1998
(c) Escrow shares: 200,000, subject to release with regulatory approval.
(d) List of directors: J. Douglas Brown
Brian A. Lueck
Abdullah Basodan
Colin Johnson
ALLIANCE PACIFIC GOLD CORP.
Quarterly Report
March 31, 1998
Schedule C
Management Discussion
During the period, the company issued 295,000 options priced at $0.35 which expire on February 5, 2003. The company also repriced 1,200,000 options from $0.75 to $0.33 and canceled 100,000 of the 1,200,000.
During this period the company incurred the following for office and general expenditures: $22,000 in finder's fees paid for the various private placements issued by the company, also included is approximately $25,000 paid for the rental of office space and approximately $45,000 for general office such as, printing, drafting and mapping, secretarial services, office supplies, bank charges, courier, etc
During the past three-month period the winter exploration program on the Plata-Inca Property, Yukon Territory was completed. The exploration program consisted of trenching, shallow drilling and road building. Drilling was conducted on the southern part of the Thrust Zone, formerly known as the "P4 Zone". A total of sixteen rotary drill holes were drilled within the zone identifying Ag, Au mineralization. The information concerning the drill program has been disseminated to the public.
In Indonesia, the company entered into an agreement with MRA Consultants Limited, subject to Vancouver Stock Exchange approval. Under the terms of the agreement MRA will provide an additional exploration program for the right to mine the eluvial resources on the Buduk Property. On the assignment of Alliance's rights, MRA will grant to Alliance an 8% carried profit interest in any mining operation undertaken by MRA on the eluvial resources. Alliance retains 100% of its interest in any hardrock deposits on the property. The exploration program will consist of 2,500m of drilling. Alliance will advance funds to MRA to cover the cost of assaying, fuel, labour and camp consumables.
In the Philippines, the company continued with completing documentation for M.P.S.A. approvals which grant the company the rights to go forward with each of the properties. At the same time, the company is in process of the negotiating with several potential joint venture partners for exploration work on some of the properties.
With respect to the required disclosure on investor relations activities: The Company, in conjunction with one other publicly traded company, employs one full-time person who, in addition to their other duties, provides corporate communications and investor relations-type services to the shareholders and potential investors in the companies.
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