news todaynot that great but there is hope...penny stocks what a gamble????
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Big Blackfoot Resources Ltd -
Big Blackfoot appoints Halliwell interim president
Big Blackfoot Resources Ltd BLF
Shares issued 16,384,920 Jun 27 2001 close $.040
Jun 28 2001 8:07:21
Mr. John Halliwell reports
John Halliwell was appointed interim president and chief executive officer on June 25, 2001, following the board of directors acceptance of Paul S. White's resignation. Mr. White has retired as president for personal reasons. The board wishes to thank Mr. White for his leadership and extensive efforts since the founding of Big Blackfoot Resources five years ago. Mr. White has agreed to remain on the board and will provide advice and assistance as required during the management transition period, and while the search is under way by the board for a new permanent president.
Barry Miller, in investor relations, has also resigned, to be effective on the same date as above.
Over the past two years, Big Blackfoot has established mineral interests in the Magadan and Irkutsk regions of Russia. The company remains enthusiastic about its prospects in Russia, especially in light of the continuing positive political changes. Despite this view, the company has not been successful to date in financing all of its Russian activities and is now reviewing all options available to retain its Russian interests, to proceed with a platinum-palladium property acquisition and to provide suitable financing.
With respect to Big Blackfoot's North American holdings, the company has completed a final agreement with Copper Ridge Explorations Ltd. at its Plata-Inca property in the Yukon for an option in favour of Copper Ridge to earn a 70-per-cent property interest over five years. Copper Ridge must spend $1.8-million over five years and provide a feasibility study in order to earn its full interest. Big Blackfoot will retain 100-per-cent interest in the property until Copper Ridge has earned 51 per cent through expenditures of a minimum of $800,000.
The board of directors, under the leadership of Mr. Halliwell, plans to review over the next several months its current business plan and all strategic options available to the company in order to add shareholder value.
(c) Copyright 2001 Canjex Publishing Ltd. https://www.canada-stockwatch.com
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