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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: hedger who wrote (761)	11/3/1998 5:54:00 PM
From: kidl	Read Replies (1) \| Respond to of 1707

Major General Resources Ltd MGJ Shares issued 35,650,047 Nov 2 close $0.29 Tue 3 Nov 98 Acquisition The VSE has accepted for filing an option agreement dated Sept. 18, 1998 between 21 claim owners and Major General Resources (the company), whereby the company has the option to earn 100 per cent interest in the Steel River claims by spending $1,000,000 and making cash payments totalling $100,000. As part of the consideration, the company will also issue 200,000 shares over five years. The first tranche of up to 50,000 shares is issuable upon exchange acceptance and the remaining tranches will be issued on an annual basis subject to exchange acceptance of a geological report detailing the exploration work done on the property and recommending further work. The claims are subject to a 2 per cent nsr of which 0.5 per cent may be bought out for $500,000. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: hedger who wrote (761)	11/3/1998 9:04:00 PM
From: donkeyman	Read Replies (2) \| Respond to of 1707

I saw somewhere the other day where one of the boys on a tread took a companies gold discovery and calculated the value of its shares based on their gold deposit alone. Has that been done for the Major on their gold deposit in the area of Springdale, Newfoundland??? ie. Based on the Current Market value for gold, Approx.production cost in the area, volume (# of tons), Number of Grams per ton (quite high), # of shares Major has, etc. etc.!! It would be great to hear that figure.!!!