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Gold/Mining/Energy : Geo2 Ltd. - Processing & Refining Gold -- Ignore unavailable to you. Want to Upgrade?

To: Goanna who wrote (26)	10/12/1998 1:47:00 PM
From: richard badauskas	Read Replies (1) \| Respond to of 52

Geo2 announced to-day that it has been offered the following Chinese deals (1) Increase production at an existing gold refinery which is currently producing at 30% of 200 tons per day capacity. (2) Increase production at another refinery which is currently producing 14,000 ozs per year (3) partake in an exploration project believed to have a resource of 600,000 ozs of gold. The current HuLuDao Refinery is projected in 1999 (rated at 60 tons per day) to produce 34,000 ozs of gold plus substantial silver and copper credits for total revenues of A$19.92M (US$12.15M), Geo2's 51% share of free cash flow A$1.10M (US$671,000). No tax payable in the first 3 years of the venture. A second venture called the Lian Australian Gold Company should produce 15,000 ozs of gold per year starting in 2000. Geo2's 49% share of revenues is projected at A$2.02M (US$1.23M) These ventures are planned to go into a spin-off company which will focus on Chinese mining and refining. See aircommunications.net