Eurasia Gold Corp. (EGX:TSE.V, EAGCF:Nasdaq OTCBB)
Thistle Mining Inc.´s Subsidiary
Acquired Additional Shares of
Eurasia Gold Corp.
1/21/04
TORONTO, Jan 21, 2004 (CNW Telbec via COMTEX) --
(TSX: THT, AIM: TMG) Thistle Mining Inc. (´Thistle´)
wishes to announce that its wholly owned subsidiary,
Compagnie Internationale de Developpement Minier (´CIDEM´)
has acquired from Thistle effective January 20, 2004,
pursuant to a private agreement that took place in
the United Kingdom, 2,549,253 shares of
Eurasia Gold Corp. (´Eurasia´) (CDNX:EGX)
at a purchase price of $0.122 per share.
As a result of this transaction, CIDEM now holds an
aggregate of 68,269,253 common shares of Eurasia.
CIDEM has acquired the shares for investment purposes.
Both Thistle and CIDEM may acquire further shares
if the price is deemed to be acceptable.
Thistle no longer holds shares of Eurasia.
This transaction brings the aggregate holdings of
CIDEM to 68,269,253 shares which represent 57.7% of
Eurasia´s outstanding common shares.
For further information:
Willie McLucas,
President and Chief Executive Officer,
+44 131 557 6222 or
+44 7836 638 912,
william.mclucas(at)thistlemining.com;
In Canada :
Harvey McKenzie,
Chief Financial Officer,
(416) 594-3293,
harvey.mckenzie(at)thistlemining.com;
Renmark Financial Communications :
Neil Murray-Lyon:
nmurraylyon(at)renmarkfinancial.com;
Sylvain Laberge:
slaberge(at)renmarkfinancial.com;
Colette Saulnier,
Media:
csaulnier(at)renmarkfinancial.com;
(514) 939-3989,
Fax: (514)939-3717
News release via Canada NewsWire,
Montreal 514-878-2520
---
Eurasia Gold Corp. ~ EGX GOLD MINES
(EGX:TSE.V)
The EGX Precious Metal Gold Mines -
EGX Gem has just started to move back UP
its a long way to hike and EGX will GO
higher than any time before, EGX has two
Gold Mines in Gold poduction of more than
30,000 Au ounces per year for about $200/oz
and plenty of more hard assets Gold Mines
& Au deposits than EGX ever had in the past,
see You at the sweet EGX TOP...
cbs.marketwatch.com/charts/int-adv.chart?siteid=mktw&symb=CA:EGX&sid=47743&time=20&startdate=&enddate=&freq=2&comp=&compidx=aaaaa~0&uf=7168&ma=1&maval=50&type=2&size=2&lf=1&lf2=4&lf3=0&1013&mocktick=1&rand=316524684&siteid=mktw
thank you, its the reflexion of the facts,
EGX is a very good Gold Mine Producer
at about $200/oz and making a good
profit...
Eurasia Gold Corp. EGX:TSE.V,
Gold Mining Projects:
About The EGX Company
Eurasia Gold Corp, ( v.EGX, EAGCF:Nasdaq )
is a Gold producing company
incorporated in Canada and headquartered
in Toronto, Ontario.
The EGX company operates two Gold Mines in Gold production,
in the Republic of Kazakhstan through its wholly owned
subsidiary, Andas-Altyn LLP.
The EGX company’s primary business is mining and
processing Gold as well as acquiring and developing
additional Gold deposits in Kazakhstan.
The EGX Gold Mines use conventional open-pit mining methods
and Gold is extracted by heap leaching.
EGX GOLD Mining Projects
The two EGX Gold Mines projects in Gold production
have an estimated resource of 850,000 ounces
of GOLD.
The Gold Ore ($420 x Au 850,000 ounces = $357,000,000.00)
The Central Mukur and Myaly mining licences
host 59 known Gold deposits
zones of oxide mineralization.
Six of these zones were mined during the years.
The remaining Gold zones are at various stages
of exploration or mine development to ensure
continuity of Gold mining operations.
It is Eurasia’s objective to increase its
annual Gold production incrementally
to Au 60,000 ounces.
Increase in Gold production will come through
increasing the production capability of the
two EGX existing Gold producing projects,
and through development of the other EGX oxide
deposits in Kazakhstan.
~ EGX with 67 zones of oxide mineralisation
remain to be further developed/explored,
according to Minesite.
EGX Eurasia Gold Mines in Kazakhstan,
A record production of GOLD Au 8,596 ounces of
GOLD was precipitated during
the 3rd quarter of 2003,
compared to 7,328 ounces
in the 2nd quarter
Highlights from Q3, 2003 earning report ( in US dollars )
- amount of Gold produced was 8,596 ounces
- amount of Gold sold was 7,443 ounces
- average production cost for the 9 months
- was $246.00/oz incl. cost for expansion of
- heap leach pads etc.
- Gold was sold at an average price of $362.89/oz
- revenue was $2,701,000
- net profit was $169,000 (only from 3rd Q3, 2003 earning report)
Potential profits ex. based on Q3, 2003
operating costs and expenses
Ex.1. 7,443/oz of Gold sell at appr. current spot price of
$415/oz will generate a profit of about...
415 - 362.89 = 52.11 x 7443 + 169000 = $556,854.73
Ex.2. 7,433/oz of Gold sell at $450/oz will generate
roughly $817,000 in profit (note. only from Q3 earning report)
Outlook for 2004
We can expect large increase in revenue and profit
in the upcoming quarters as Eurasia will greatly
benefit from much higher Gold prices.
Management has also proposed that an additional
exploration of ore zones at Central Mukur will
be initiated to further increase the mineable
reserves during 2004.
The EGX Board is continuing with its chosen
strategy of running the company on an
un-hedged basis.
The combination of higher Gold prices,
increase revenues, and the 2004 exploration program
can help lift EGX to new height.
Eurasia is a small and low cost Gold producer
that will offer investors the best leverage
in a rising Gold bull market, imo.
The current value today of the two EGX Gold Mines
development and infrastructure would be
about $40 millions.
Add the value of 59 more Gold deposits with
feasibility studies, and nearly
30 years of exploration activities made by
the Soviet will indicate Eurasia´s market
cap of CDN $15 millions as of
Jan. 7, 2004 to be extremely undervalued.
www.eurasiagold.com/goldprod.html
DD: Eurasia Gold Corp. (EGX:TSX-V)
Email: eurasia@eurasiagold.com
Website: www.eurasiagold.com
www.tse.com/...edPrices&Language=en&QuoteSymbol_1=egx&x=25&y=9
Please do your own DD before investing in any stocks, imo!
Best regards,
Thistle Mining Inc.´s Subsidiary
Acquired Additional Shares of
Eurasia Gold Corp.
1/21/04
TORONTO, Jan 21, 2004 (CNW Telbec via COMTEX) --
(TSX: THT, AIM: TMG) Thistle Mining Inc. (´Thistle´)
wishes to announce that its wholly owned subsidiary,
Compagnie Internationale de Developpement Minier (´CIDEM´)
has acquired from Thistle effective January 20, 2004,
pursuant to a private agreement that took place in
the United Kingdom, 2,549,253 shares of
Eurasia Gold Corp. (´Eurasia´) (CDNX:EGX)
at a purchase price of $0.122 per share.
As a result of this transaction, CIDEM now holds an
aggregate of 68,269,253 common shares of Eurasia.
CIDEM has acquired the shares for investment purposes.
Both Thistle and CIDEM may acquire further shares
if the price is deemed to be acceptable.
Thistle no longer holds shares of Eurasia.
This transaction brings the aggregate holdings of
CIDEM to 68,269,253 shares which represent 57.7% of
Eurasia´s outstanding common shares.
For further information:
Willie McLucas,
President and Chief Executive Officer,
+44 131 557 6222 or
+44 7836 638 912,
william.mclucas(at)thistlemining.com;
In Canada :
Harvey McKenzie,
Chief Financial Officer,
(416) 594-3293,
harvey.mckenzie(at)thistlemining.com;
Renmark Financial Communications :
Neil Murray-Lyon:
nmurraylyon(at)renmarkfinancial.com;
Sylvain Laberge:
slaberge(at)renmarkfinancial.com;
Colette Saulnier,
Media:
csaulnier(at)renmarkfinancial.com;
(514) 939-3989,
Fax: (514)939-3717
News release via Canada NewsWire,
Montreal 514-878-2520
---
Eurasia Gold Corp. ~ EGX GOLD MINES
(EGX:TSE.V)
The EGX Precious Metal Gold Mines -
EGX Gem has just started to move back UP
its a long way to hike and EGX will GO
higher than any time before, EGX has two
Gold Mines in Gold poduction of more than
30,000 Au ounces per year for about $200/oz
and plenty of more hard assets Gold Mines
& Au deposits than EGX ever had in the past,
see You at the sweet EGX TOP...
cbs.marketwatch.com/charts/int-adv.chart?siteid=mktw&symb=CA:EGX&sid=47743&time=20&startdate=&enddate=&freq=2&comp=&compidx=aaaaa~0&uf=7168&ma=1&maval=50&type=2&size=2&lf=1&lf2=4&lf3=0&1013&mocktick=1&rand=316524684&siteid=mktw
thank you, its the reflexion of the facts,
EGX is a very good Gold Mine Producer
at about $200/oz and making a good
profit...
Eurasia Gold Corp. EGX:TSE.V,
Gold Mining Projects:
About The EGX Company
Eurasia Gold Corp, ( v.EGX, EAGCF:Nasdaq )
is a Gold producing company
incorporated in Canada and headquartered
in Toronto, Ontario.
The EGX company operates two Gold Mines in Gold production,
in the Republic of Kazakhstan through its wholly owned
subsidiary, Andas-Altyn LLP.
The EGX company’s primary business is mining and
processing Gold as well as acquiring and developing
additional Gold deposits in Kazakhstan.
The EGX Gold Mines use conventional open-pit mining methods
and Gold is extracted by heap leaching.
EGX GOLD Mining Projects
The two EGX Gold Mines projects in Gold production
have an estimated resource of 850,000 ounces
of GOLD.
The Gold Ore ($420 x Au 850,000 ounces = $357,000,000.00)
The Central Mukur and Myaly mining licences
host 59 known Gold deposits
zones of oxide mineralization.
Six of these zones were mined during the years.
The remaining Gold zones are at various stages
of exploration or mine development to ensure
continuity of Gold mining operations.
It is Eurasia’s objective to increase its
annual Gold production incrementally
to Au 60,000 ounces.
Increase in Gold production will come through
increasing the production capability of the
two EGX existing Gold producing projects,
and through development of the other EGX oxide
deposits in Kazakhstan.
~ EGX with 67 zones of oxide mineralisation
remain to be further developed/explored,
according to Minesite.
EGX Eurasia Gold Mines in Kazakhstan,
A record production of GOLD Au 8,596 ounces of
GOLD was precipitated during
the 3rd quarter of 2003,
compared to 7,328 ounces
in the 2nd quarter
Highlights from Q3, 2003 earning report ( in US dollars )
- amount of Gold produced was 8,596 ounces
- amount of Gold sold was 7,443 ounces
- average production cost for the 9 months
- was $246.00/oz incl. cost for expansion of
- heap leach pads etc.
- Gold was sold at an average price of $362.89/oz
- revenue was $2,701,000
- net profit was $169,000 (only from 3rd Q3, 2003 earning report)
Potential profits ex. based on Q3, 2003
operating costs and expenses
Ex.1. 7,443/oz of Gold sell at appr. current spot price of
$415/oz will generate a profit of about...
415 - 362.89 = 52.11 x 7443 + 169000 = $556,854.73
Ex.2. 7,433/oz of Gold sell at $450/oz will generate
roughly $817,000 in profit (note. only from Q3 earning report)
Outlook for 2004
We can expect large increase in revenue and profit
in the upcoming quarters as Eurasia will greatly
benefit from much higher Gold prices.
Management has also proposed that an additional
exploration of ore zones at Central Mukur will
be initiated to further increase the mineable
reserves during 2004.
The EGX Board is continuing with its chosen
strategy of running the company on an
un-hedged basis.
The combination of higher Gold prices,
increase revenues, and the 2004 exploration program
can help lift EGX to new height.
Eurasia is a small and low cost Gold producer
that will offer investors the best leverage
in a rising Gold bull market, imo.
The current value today of the two EGX Gold Mines
development and infrastructure would be
about $40 millions.
Add the value of 59 more Gold deposits with
feasibility studies, and nearly
30 years of exploration activities made by
the Soviet will indicate Eurasia´s market
cap of CDN $15 millions as of
Jan. 7, 2004 to be extremely undervalued.
www.eurasiagold.com/goldprod.html
DD: Eurasia Gold Corp. (EGX:TSX-V)
Email: eurasia@eurasiagold.com
Website: www.eurasiagold.com
www.tse.com/...edPrices&Language=en&QuoteSymbol_1=egx&x=25&y=9
Please do your own DD before investing in any stocks, imo!
Best regards,
