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

To: Abbeydale who wrote (256)	11/27/1998 12:13:00 AM
From: Neil Irwin	Read Replies (3) \| Respond to of 397

All, Talked with Paddy on Tuesday, and he updated me on some aspects. He expects the $250,000 financing to close this week and the $1M brokered placement to close next week. Drilling should then start before Christmas. They hope to drill in two phases of 10 holes each, for a total of 2000m. Paddy said that contracts had not been signed yet, which IMO may be a concern (given the amount of interest in Argentina resulting from ARP). He did say that the other companies in Santa Cruz (ie Yamana, Minera Andes) had their own drill units, so they are not competing for the contractors. Apparently someone has staked all the property around La Manchuria, but he did not know who it was. I hope that they announce shortly that the financing is complete. That would give a boost to the share price in anticipation of drilling. Also, Yamana is due to release results - if good they could help here. Neil.