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This company has just restructured itself into a Venture capital/internet incubator company specializing in early stage internet, technology and B2B startups. Name change and symbol change will be effective by mid March. Tony 10/4/99 addition: Management is actively seeking acquisitions in the technology / internet sector and are no longer in the mining business. The management team has a long history of finding and closing big deals. Number as of of Oct 1/99.... Cash holdings: $19.5 Million, Debt. 0 Asset for sale (Loma de Niquel): $1 Million Investment in Medsite.com: $1.5 Million (http://www.medsite.com/) ---Note: Medsite.com is a hot Internet IPO coming out in the next quarter. The investment is convertible into shares of Medsite.com at a price significantly below the IPO price. The investment should be valued significantly higher after the IPO. Shares issued: 30.3 Million, Insiders Holding: 6.4 Million -- Note: Insiders bought 4.2 million since Jan. 99...no shares sold Options: 2.7 million – prices (0.48 – $2.00+), Warrants: None Float Estimate: 7-9 Million, Burn Rate Low: ~$85,000/month | ||||||||||||||
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