GPN greater pacific gold limited

GPN ...what goes on ??

  1. 7,397 Posts.
    Has anybody got any info on this company

    I find it odd that the director of Solbec ,which is a good company with good prospects , sell some of his shares in SBP to buy into GPN ,
    Do I smell a deal of some sorts ?? ,
    Does anybody know this area ,does it have some good propects
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    Third Quarter Activities & Cashflow Report


    GREATER PACIFIC GOLD LIMITED 2002-04-30 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    REVIEW OF OPERATIONS

    EXPLORATION AND EVALUATION

    GABANINTHA VANADIUM PROJECT

    No work was carried out on the Gabanintha Vanadium Project during the
    quarter under review.

    During the quarter the company reviewed potential new processing
    techniques for vanadium extraction and is continuing to consider
    available options in respect to progressing the Gabanintha Vanadium
    Project.

    CORPORATE MATTERS

    During the quarter the company was presented with a number of
    potential projects and investment prospects. The company is
    continuing to carry out due diligence on those prospects that are
    considered to have merit and which the Board believes will deliver
    enhanced shareholder value.

    At the end of the quarter the company had cash reserves of $1.708
    million and further short term cash call advances/convertible notes
    of $325,000.

    INTERESTS IN MINING TENEMENTS

    GABANINTHA VANADIUM PROJECT, WESTERN AUSTRALIA - 100%

    PROSPECTING LICENCE 51/2226

    The Company has a right to earn an 80% interest in the vanadium
    mineralisation contained within M51/772 and ELA51/843.

    Riverina Tailings Project - Western Australia (10% Production
    Interest)

    ROYALTY INTERESTS

    The company has the, following royalty interests:

    (a) A 6% royalty light for all production exceeding 100,000 oz of
    gold in the following tenements:

    Mining leases 30/109, 30/48, 30/59 and 30/75
    Application for mining lease 30/122 and 30/123
    Exploration licence 30/77 and 30/79
    Exploration licence 30/165
    Prospecting licence 30/901
    Prospecting licences 30/909 to 30/923 inclusive, 30/928 and 30/929
    Miscellaneous licences 30/9 and 30/36

    2 (b) The company will receive a phased royalty on production from
    mining leases 30/16, 30/60, 30/97 and 30/98 of A$10 per ounce on the
    first 50,000 ounces. No royalty is payable on the production of the
    next 25,000 ounces with A$10 per ounce payable on the next 50,000
    ounces produced. Thereafter a royalty capped at A$1.3 million is
    payable at rates linked to the head grade of the ore treated.


    -----------------------------------------------------



    Becoming a substantial holder

    GREATER PACIFIC GOLD LIMITED 2002-04-08 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Michael Ruane became a substantial shareholder in Greater Pacific
    Gold Limited on 27/03/2002 with a relevant interest in the issued
    share capital of 11,240,081 ordinary fully paid shares (6.15%).


 
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