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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: D.M. who wrote (660)	1/14/1999 5:26:00 PM
From: kidl	Read Replies (1) \| Respond to of 892

Peruvian commissions Lara scoping study Peruvian Gold Limited PVO Shares issued 14,227,466 Jan 13 close $0.51 Thu 14 Jan 99 News Release Mr. David Henstridge reports LARA The company has commissioned Rescan Engineering to perform a scoping study to estimate the potential copper production economics of its 100 per cent owned Lara porphyry copper deposit in coastal Peru. A supergene zone of chalcocite mineralization was identified in three drilling programs performed between May 1997 and August 1998. The drill results to date and the potential size of the mineralized area warrant this study. A preliminary column leach study was started in November 1998 on core from the mineralized intervals of two diamond drill holes from the third drilling campaign. These holes, LDD-13 and LDD-14, are twinned core holes of earlier reverse circulation drill holes. Analyses from these holes showed a significant increase in copper values, suggesting that some of the chalcocite may have been lost using the reverse circulation drill method. The column leach study is being undertaken at C.H. Plenge Laboratories in Lima, Peru. So far, after about 90 days of digestion, the copper extraction curves have not flattened out, and the extraction rates are approaching 80 per cent. This is considered to be acceptable for chalcocite mineralization. The columns will continue to be monitored until an estimate of final copper extraction can be made. OLLACHEA The company has received the first results from a five hole, 501 metre diamond drill program completed in mid-December on the company's Ollachea gold prospect. Drill hole No. 1 was up-slope from old underground workings from which a value of 4.9 g/t Au was obtained by the company over a 17.2 metre interval. Hole No. 1 was directed towards these workings but the values in the drill core were significantly lower than those found in the underground workings. The entire 120.5 metres of the hole averaged 0.32 of a gram per tonne Au, which included a 71 metre interval between 49 metres and 120.5 metres that averaged 0.47 of a gram per tonne Au, and two narrower intervals that ran 0.99 of a gram per tonne Au over 10 metres and five metres that ran 2.1 grams per tonne Au. The remaining holes, drilled along strike from hole No. 1, are being split and analyzed at C.H. Plenge Laboratories in Lima, Peru, and results will be released as soon as available. CORPORATE A private placement of 1,000,000 units to raise $625,000 has been arranged. Each unit comprises a share and a two year warrant exercisable at 70 cents in year one and 75 cents in year two. The purchaser of the units is Bradstone Equity Partners, Inc. Bradstone presently has a 24.7 per cent ownership interest in the company and this purchase will increase Bradstone's interest to 29.56 per cent. The board has granted options to purchase 50,000 shares at 81 cents. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: D.M. who wrote (660)	1/14/1999 5:40:00 PM
From: kidl	Read Replies (1) \| Respond to of 892

Could someone please explain this part to me: A private placement of 1,000,000 units to raise $625,000 has been arranged. Each unit comprises a share and a two year warrant exercisable at 70 cents in year one and 75 cents in year two. The purchaser of the units is Bradstone Equity Partners, Inc. Bradstone presently has a 24.7 per cent ownership interest in the company and this purchase will increase Bradstone's interest to 29.56 per cent. And here I thought cash was the least of our problems or has the kiddy already disappeared and we just haven't found out about it. Bas&^*ds!