more news...Metalex renegotiates agreements
Dianor Resources Inc DOR
Shares issued 37,789,213 Aug 21 2002 close $ 0.10
Wednesday August 21 2002 News Release
See Metalex Ventures Ltd (MTX) News Release
Mr. Kathrine MacDonald of Metalex Ventures reports
The company has renegotiated its agreement with Kel-Ex Developments Ltd. to acquire a 20-per-cent interest in Verena Minerals Corp. and BHP Empreendimentos Minerias Ltda. (BHPEML) diamond exploration project in Minas Gerais, Brazil, for consideration of 200,000 shares. The company has agreed to expend (if warranted) $4.2-million (U.S.) on exploration over a five-year period. In return, the company will earn a 20-per-cent carried interest in the project to commercial production.
The company has also renegotiated the agreement with Lucky Panda Geoservices Ltd. to acquire a 33-1/3-per-cent interest in its joint venture between Dianor Resources Inc. and Wemindji Exploration Inc. covering numerous claims staked for diamonds in the Wemindji James Bay area, Quebec, in consideration for 200,000 shares and payment of one-third of Dianor and Wemindji Exploration Inc. exploration and staking costs.