Platexco TSE:PTX This is a Platinum Mine

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Gold/Mining/Energy
Platexco TSE:PTX This is a Platinum Mine

An SI Board Since October 1998

Posts	SubjectMarks	Bans	Symbol
11	1	0	PTX

Emcee: Gord Bolton	Type: Unmoderated

Introduction Market Data Compact

I thought that this company should have a thread here.
Watch the price of Platinum--Palidium. There are not very many
current producers. Platexco will definitely be a takeover target.
Think what the demand for platinum will be if Dalmer Benze or GM
starts producing autos, busses, and trucks powered by fuel cells!!

The share price is currently around $3.00. I believe their ore grades
are comparable to existing producers. Should be worth watching and
it might be worth taking a nibble.

FOR FURTHER INFORMATION PLEASE CONTACT:
Platexco Inc.
Warren Newfield
(416) 361-0486
(416) 361-0330 (FAX)
Web site: www.platexco.com
Email: info@platexco.com

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS

FOR: PLATEXCO INC.

TSE SYMBOL: PTX

OCTOBER 2, 1998

Platexco Announces Revision To Purchase Agreement

TORONTO, ONTARIO--Platexco Inc. ("Platexco") announced that
further to its press release of September 18, 1998, it has been
advised by Vansa Vanadium S.A. Ltd. ("Vansa") that the South
African Reserve Bank has not approved the proposed acquisition of
the Winnaarshoek and Buffelshoek properties on the terms
previously agreed by Platexco and Vansa. Under those
arrangements, it was contemplated that Platexco would pay Rand
8,500,000 (approximately Cdn.$2.2 million at present exchange
rates) and issue 1.5 million common shares of Platexco to acquire
100 percent ownership of the mineral rights to the properties and
cancel the 20 percent participation right currently held by Vansa.

As a result of the failure to obtain all necessary approvals, the
parties have reverted to the current option arrangements and
Platexco will exercise its option to acquire ownership of the
mineral rights for cash purchase price of Rand 24,000,000
(approximately Cdn. $6 million at present exchange rates). In
addition, it has been agreed that the 20 percent participation
right currently held by Vansa will be cancelled in consideration
of Platexco issuing Vansa 400,000 common shares. The exercise of
the option by the Company and registration of the mineral rights
in the name of the Company's subsidiary is anticipated to be
complete within 60 days. The transaction is subject to the
approval of the South African Reserve Bank and other regulatory
approvals before or on October 9th, 1998.

While it is anticipated that the transaction will receive all
necessary approvals, in the event such approvals are not obtained,
the parties will revert to the current option arrangements and
Platexco will exercise its option to acquire ownership of the
mineral rights, subject to the 20 percent participation right in
favour of Vansa, for a cash purchase price of Rand 24,000,000.

Upon completion of the transaction, Platexco will have 17,092,055
shares outstanding and approximately Cdn. $2.7 million in cash.
The Company is presently in the process of undertaking a
prefeasibility study, following which it is anticipated a bankable
feasibility study will commence.

There are currently 16,692,055 shares of Platexco issued and
outstanding.

Listed in Standard & Poor's Corporation Records SEC 12g 3-2(b)
exemption 82-4679.

This document may contain or refer to forward looking information,
including reserve and resource estimates, estimates of future
production, costs per ounce, costs of capital projects and timing
of commencement of operations, and is based on current
expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ
materially from any forward looking statement include, but are not
limited to, failure to establish estimated resources and reserves,
the grade and recovery of ore which is mined varying from
estimates, capital and operating costs varying significantly from
estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation,
changes in exchange rates, fluctuations in commodity prices,
delays in the development of projects and other factors.
Forward-looking statements are subject to risks, uncertainties and
other factors that could cause actual results to differ materially
from expected results.

-30-

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
11	yeah, I can proudly confirm that the money for my tendered shares were finally p	Conky Lives!	-	12/20/2000
10	Platexco completes Impala transaction Platexco Inc PTX Shares issued 19,277,453	Bruce Robbins	-	12/19/2000
9	Any one out there following the takeover? Comments are appreciated. Leon	Conky Lives!	-	9/8/2000
8	FOR FURTHER INFORMATION PLEASE CONTACT: Platexco Inc. Warren Newfield (416) 361	Gord Bolton	-	4/12/1999
7	Jay Taylors hotline has to say this about PTX: PLATEXCO INC. also had a good r	chevalier	-	1/11/1999
6	Looks like this sleepy dog appears to be waking up since the cross a couple of	chevalier	-	1/6/1999
5	I agree with your assessment of management. I don't trust the fact that tra	baystock	-	12/31/1998
4	Check out the initial PGM trenching results from Pacific Northwest Capital (PFN	John E.Quinn	-	10/19/1998
3	A problem w/ this stock is that insiders issued themselves options w/ 2 cent st	The Barracuda™	-	10/3/1998
2	Monday July 20, 3:15 pm Eastern Time Company Press Release Platexco Completes	Gord Bolton	-	10/3/1998
1	There is a dormant thread here with a different symbol. Subject 17870	Gord Bolton	-	10/3/1998

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