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Property News
April 15, 2002
Vaaldiam Resources proposes to issue 1.5 million units, on a private placement basis, at a price of 10 cents per unit to a New Zealand-based investment company, Widespread Portfolios Ltd, for total gross proceeds of CAD150,000. Shares of the company currently trade at 63 cents, with 9.1 million shares currently issued and outstanding. Vaaldiam plans to use the proceeds of the private placement to finance the company's 40% interest in the joint venture exploration program in the Central African Republic with Gem Fields Resources Ltd, and for general working capital. Each unit will consist of one common share and one common share purchase warrant to acquire one Vaaldiam common share.
Trenching had discovered diamond-bearing gravels along the left bank of the Bangoran River. A total of 3 bulk trenches have been completed across the alluvial flats.
September 30, 1996
Trenching had discovered diamond-bearing gravels along the left bank of the Bangoran River. A total of 3 bulk trenches have been completed across the alluvial flats.
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