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Gold/Mining/Energy : TRANS-GLOBAL, TGA-VSE -- Ignore unavailable to you. Want to Upgrade?

To: freddy who wrote (49)	5/2/1999 9:03:00 PM
From: davo	Read Replies (1) \| Respond to of 73

TGA quarterly report (with Chile joint venture): TRANS-GLOBAL RESOURCES NL 1999-04-30 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++QUARTERLY REPORT FOR THE PERIOD ENDING 31 MARCH 1999 HIGHLIGHTS* Subsequent to the end of the quarter the Company announced a proposal to acquire certain interests in Internet Casino Gambling and the Celebweb Online Gaming Channel from the GET Group of companies (refer announcement dated 20 April 1999). * As a consequence of the proposed acquisition the Company, in consultation with the Australian Stock Exchange Limited ("ASX") concluded that the acquisition might fall within the provisions of Chapter 11 of the ASX Listing Rules and subsequently applied for a voluntary suspension of its securities. * An Information Memorandum has been lodged with the ASX and will be dispatched to shareholders shortly. * Joint Venture negotiations are continuing with respect to the Filomena Copper Project in Northern Chile. The Company should be in a position to announce the details of this transaction shortly. PROPOSED ACQUISITION FROM GET GROUP Pursuant to an Acquisition Agreement dated 20 April 1999 Trans-Global will, subject to shareholder and all other regulatory approvals, acquire certain interests in Internet Gambling and the Celebweb Online Gaming Channel from the GET Group of companies. The interests to be acquired comprise: a) A right to 30% of the revenue stream from Internet Casino Gambling (excluding the Federal Hotels Agreement); and b) 50% of the revenue stream converting to 50% of the issued capital of GET Interactive Inc which presently holds a 42.5% interest in Celebweb. In consideration of these interests Trans-Global would provide the GET Group with:a) $500,000 cash; andb) 31.25 million new shares in Trans-Global. The Directors believe the proposed acquisition will provide substantial benefits to Trans-Global shareholders which are outlined in the Information Memorandum to be dispatched to shareholders. FILOMENA COPPER/GOLD PROJECT CHILE As previously disclosed the Company is in the process of finalising joint venture arrangements with respect to the Filomena Copper/Gold Project in northern Chile. It is anticipated that formal documentation will be executed shortly and a suitable announcement will be made to ASX. The proposed joint venture partner is a large international mining company who are proposing to spend a substantial amount on exploration and further development of the existing resource base at Filomena. FIRST AU STRATEGIES CORP - ("FAS" - FORMERLY WEST AFRICAN GOLD CORP) No new exploration work was carried out by FAS during the quarter although previous results from both geochem sampling and trenching carried out at the Subranun Project during the second half of calendar 1998 were highly encouraging confirming that the same structure which hosts the 2.5 million ounce Bibiani deposit is mineralised in the Subranum concession. A follow-up drilling program has been proposed in conjunction with the Company's joint venture partner Western Minerals NL. A meeting held on 20 April 1999 voted in favour of consolidating FAS capital on a 1 for 12 basis. The name of the Company was changed from West African Gold Corp to First Au Strategies Corp, effective from 27 April 1999. R Revelins DIRECTOR