Sections
Editions
Affiliated Sites
All InfoMine
YUEN JIA PING (YJP)
|
|
Key Facts
New to Company & PropertyMine?
Start Here » 
Comparable Properties
|
Latest Information December 31, 2007 Reported that no work has been carried out in China since the latter part of 2006. The company has decided not to carry out any further work in China at this time. The company will focus its efforts on North American properties. At the same time the Chinese government has put a moratorium on issuing exploration and development licenses for all mining projects through 2007 and for coal through 2008.  April 21, 2004 Pinnacle Mines plans to raise CAD1.18 million to cover a portion of the property payments for the acquisition and evaluation of the Yang Wen Chong gold property, located in the southeast region of Yunnan Province, China. Pinnacle will offer up to 1,825,000 units at 65 cents for total proceeds of CAD1,186,250, each unit consisting of one common share and one share purchase warrant. The warrants are exercisable by the holder on the basis of two warrants and 80 cents for one common share for a period of two years. Shares of Pinnacle currently trade at 80 cents on the TSX Venture Exchange with 5.3 million shares currently issued and outstanding. Pinnacle Mines has signed a Letter Agreement with Yunnan Geology and Mineral Resources to acquire a 100% interest in the Yang W en Chong gold property. The YWC property is a 51.2 sq km mineral exploration license located in Fu Lin County, Yunnan Province, China. March 23, 2004 Pinnacle Mines has recently been informed by Tianlong Mining Co Ltd, the private owner of the Yien Jia Ping gold property in southeast Yunnan, PRC, that Tianlong has unilaterally decided to cancel the letter of intent and refund all payments made by Pinnacle to date. Pinnacle believe the letter of intent is a binding contract and are not interested in canceling the agreement. Accordingly, Pinnacle's Chinese counsel has been instructed to notify Tianlong that Pinnacle does not recognize Tianlong's unilateral action, and that Pinnacle will use all governmental and legal remedies available, both in China and abroad, to insure the terms of the agreement are complied with. |
Copyright © InfoMine Inc. Developed and maintained by InfoMine Inc. All rights reserved.
